EGX ends in green on June 16    Egyptian pound rebounds at June 16 close – CBE    Egypt, IFC explore new investment avenues    Israel, Iran exchange airstrikes in unprecedented escalation, sparking fears of regional war    Rock Developments to launch new 17-feddan residential project in New Heliopolis    Madinet Masr, Waheej sign MoU to drive strategic expansion in Saudi Arabia    EHA, Konecta explore strategic partnership in digital transformation, smart healthcare    Egyptian ministers highlight youth role in shaping health policy at Senate simulation meeting    Egypt signs $1.6bn in energy deals with private sector, partners    Pakistani, Turkish leaders condemn Israeli strikes, call for UN action    Sisi launches new support initiative for families of war, terrorism victims    Egypt's President stresses need to halt military actions in call with Cypriot counterpart    Egypt's GAH, Spain's Konecta discuss digital health partnership    Environment Minister chairs closing session on Mediterranean Sea protection at UN Ocean Conference    Egypt nuclear authority: No radiation rise amid regional unrest    Grand Egyptian Museum opening delayed to Q4    Egypt delays Grand Museum opening to Q4 amid regional tensions    Egypt slams Israeli strike on Iran, warns of regional chaos    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's EDA joins high-level Africa-Europe medicines regulatory talks    US Senate clears over $3b in arms sales to Qatar, UAE    Egypt discusses urgent population, development plan with WB    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt, Serbia explore cultural cooperation in heritage, tourism    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Egypt launches "Memory of the City" app to document urban history    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



G20 agriculture ministers slam protectionism
Published in The Egyptian Gazette on 29 - 07 - 2018

BUENOS AIRES (News wires) - Agriculture ministers from the G20 countries criticized protectionism in a joint statement on Saturday, and vowed to reform World Trade Organisation (WTO) rules, but did not detail what steps they would take to improve the food trade system.
In the statement, they said they were "concerned about the increasing use of protectionist non-tariff trade measures, inconsistently with WTO rules."
The ministers from countries including the United States and China, in Buenos Aires for the G20 meeting of agriculture ministers, said in the statement they had affirmed their commitment not to adopt "unnecessary obstacles" to trade, and affirmed their rights and obligations under WTO agreements.
The meeting came amid rising trade tensions that have rocked agricultural markets. China and other top US trade partners have placed retaliatory tariffs on American farmers after the Trump administration put duties on Chinese goods as well as steel and aluminum from the European Union, Canada and Mexico.
US growers are expected to take an estimated $11 billion hit due to China's retaliatory tariffs. Last week, the Trump administration said it would pay up to $12 billion to help farmers weather the trade war.
US Agriculture Secretary Sonny Perdue told Reuters in an interview on the sidelines of the meeting that Trump's plan would include between $7 billion and $8 billion in direct cash relief that US farmers could see as early as late September.
Despite the payments, the measures are "not going to make farmers whole," Perdue said.
Citing the Trump administration's relief measures, German Agriculture Minister Julia Kloeckner said farmers "don't need aid, (they) need trade."
"We had a very frank discussion about the fact that we don't want unilateral protectionist measures," Kloeckner said in a news conference after the meeting.
The ministers, whose countries represent 60 per cent of the world's agricultural land and 80 per cent of food and agricultural commodities trade, did not specify which measures they were referring to in the statement. Asked for details, Kloeckner said the ministers did not want to "criticize a single country."
"We all know what happens if a single person or country doesn't adhere to WTO rules, trying to get a benefit for themselves through protectionism," she said. "This will usually lead to retaliatory tariffs."
In the statement, the ministers said they agreed to continue reforming the WTO's agricultural trade rules.
"Independent of all the news there was surrounding (the meeting), we managed to reach a unanimous consensus," Argentine Agriculture Minister Luis Miguel Etchevehere said.
US President Donald Trump and European Commission President Jean-Claude Juncker struck a surprise deal on Wednesday that ended the risk of further escalating trade tensions between the two powers.
After the meeting, Trump said the European Union would buy "a lot" of US soybeans.


Clic here to read the story from its source.