View from City Road: Gatt deal still the main issue
Friday 23 April 1993
Although the unresolved problem of telecommunications appears to be a stumbling block, it could yet be isolated from the broader trade issue. There remains, however, another very worrying element.
It seems to show a growing willingness in both Brussels and Washington to test each other's mettle. The EC wants to show it is not a junior partner; the US, to demonstrate that its economic weight still makes it the primary power in the world trading system. There are plenty of other issues lying around that can be exploited by both sides. Perhaps, looking on the bright side, this is just the reaction of a new European Commission to a new US administration.
What is still at stake is the success of the Gatt round. France and Germany are at odds over the next steps in Gatt. Nor has the US thrashed out all its internal problems over trade. Beyond this, there are further problems over agriculture: the EC yesterday lashed out at Canada, Korea and Japan, which have hitherto sheltered behind the larger transatlantic conflict. Getting a deal in Gatt requires both sides to avoid the posturing that has characterised the past few months and get down to business in Geneva.
So long as the EC and the US keep their eyes on the prize of a global trade pact, the system can, however, withstand these periodic explosions.
- 1 Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
- 2 Greece debt crisis explained: A history of just how the country landed itself in such a mess
- 3 People all over the world are getting semicolon tattoos to draw attention to mental health
- 4 Greek debt crisis: Yanis Varoufakis's funniest (and most memorable) quotes
- 5 Swedish minister gives strongest case yet on why EU should stop turning away asylum seekers
More Britons believe that multiculturalism makes the country worse - not better, says poll
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
Sickness and disability benefits could be reduced by £30 a week as part of £12bn welfare cuts
£16000 - £30000 per annum: Recruitment Genius: They are looking for individual...
£25000 - £40000 per annum: Recruitment Genius: A Project Coordinator is requir...
£40000 - £95000 per annum: Recruitment Genius: This is an exciting opportunity...
£20000 - £40000 per annum: Recruitment Genius: Trainee Vehicle Inspectors / Pu...