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Trade Wars Us, Eu And China

4844 words - 20 pages

Article 133 (ex-Article 113) - Article 133 of the EC Treaty allows the European Union to negotiate, conclude and implement trade agreements with other countries of the world. It is therefore at the foundation of the European Common Commercial Policy. It states that:1. The common commercial policy shall be based on uniform principles.2. The Commission is the negotiator, responsible for conducting trade negotiations on the basis of "directives for negotiation" given by the Council to guide the Commission in its work and decides ultimately, whether to adopt an accord.3. The Commission is the enforcer, responsible for ensuring compliance by third countries with international trade accords.4. The ...view middle of the document...

In practical terms this means that any major trade agreement is likely to require the unanimous approval of member States.7. Shared competencies : Article 133 also makes room for areas where competencies are shared between the EC and member states, namely in the areas relating to trade in cultural and audiovisual services, educational services, and social and human health services. Agreements thus negotiated shall be concluded jointly by the Community and the Member States.ROLE AND RESPONSIBILITIES OF THE EUROPEAN UNIONTogether, the European Union's 25 members represent just 7% of the world's population, but they account for more than a fifth of global imports and exports. Trade became one of the first areas in which EU countries saw that they could get a better deal by working together. To maximise their influence on the international scene, the EU's 25 members negotiate as one through the European Commission. Trade policy formulation involves a wide range of players.Trade is not a recent phenomenon. People throughout the world have always wanted to see new destinations and buy things made by others.So - Globalisation is including more and more countries, rich and poor, in the world economy. This process is changing the context for world trade and increasingly permeating our everyday lives.through our daily life. The wealth trade can generate helps the European Union (EU) governments to meet their citizens' aspirations for a better quality of life.The EU is one of the key players in the World Trade Organisation (WTO). This is because the EU has a common trade policy, where the European Commission negotiates on behalf of the Union's 25 Member States. As such, the EU is one of the driving forces behind the current round of multilateral trade negotiations in the WTO, the Doha Development Agenda (DDA). The DDA comprises both further market opening and additional rule making, underpinned by commitments to take measures necessary to integrate developing countries into the world trading system, notably by strengthening assistance to build capacity. The main objective of the New Round is to put development at the heart of the world trade system in a way that will help them combat poverty.The WTOThe WTO was established in 1995 as a result of the Uruguay Round of multilateral trade negotiations (1986-1994). It is an international organization that sets global rules of trade between nations. The core of the WTO system, referred to as the multilateral trading system, are the WTO agreements which lay down the legal ground rules for international trade as well as the market-opening commitments taken up by its Members. These agreements are negotiated and signed by all Members of the WTO, and ratified in their parliaments.The WTO is composed of governments and political entities (such as the EU) and is a member-driven organisation with decisions mainly taken on a consensus basis. Membership implies a balance of rights and obligations. By October 2004, 149...

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