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Given Australia’s significant economic integration into the world trading system, foreign protectionism poses a genuine threat to Australian living standards. While the current US administration’s trade policy has put the spotlight on protectionism, in fact over the past decade there has been sustained resort to trade distortions by many governments.
The Marrakesh Agreement’s Dispute Settlement Understanding (DSU) represented a major step forward in trade dispute settlement from the largely ineffective pre-1995 General Agreement on Tariffs and Trade (GATT) system. Under GATT, dispute-settlement panels’ establishment was frequently blocked; panels that were established frequently had their reports’ adoption blocked by losing parties; timeframes were ineffective; and American dissatisfaction often led to unilateral trade actions implemented pursuant to Washington’s s. 301 statute.
The Japanese desire not to antagonize the Trump Administration means there is little prospect of concerted G20 action this year. IIT partnered with RIETI (based in Tokyo), and ANU’s Research School for Asia and the Pacific to host a Think 20 Trade taskforce dialogue on the G20’s trade agenda.
The Institute for International Trade hosts the 3rd Adelaide PhD Summer Institute in International Trade. Adelaide was the centre of PhD student research in international trade in Australasia on March 20 and 21, as twelve aspiring PhD students and Adelaide scholars in international trade met to discuss their research.
Guest speaker Senator the Honourable Simon Birmingham, Australian Minister for Trade, Tourism and Investment and Deputy Leader of the Government in the Senate, gave an address on Australia’s relations with the EU and current trade policy challenges.
Official Opening of the Jean Monnet Centre of Excellence in International Trade & Global Affairs and Book Launch
The Institute for International Trade invites you to join special guest Senator The Honourable Simon Birmingham, Australian Minister for Trade, Tourism and Investment and Deputy Leader of the Government in the Senate for the official opening of the newly established Jean Monnet Centre of Excellence in International Trade and Global Affairs.
Steve Woolcock, London School of Economics
Today there are more doubts that transatlantic cooperation is in the mutual interest of the US and EU than at any time since the creation of the GATT. First, the US Administration is pursuing a purely value-claiming (“I win you lose”) trade strategy vis–a– vis the EU (and other countries) when the norm has been value creating or “win-win”.
On 1 October 2018 the IIT collaborated with the SAIS Europe division of the Johns Hopkins University to host an Australia-Europe Economic Relations Dialogue in Bologna. The event was opened by Greg French, Australian Ambassador to Italy, Michael Plummer, Director of the JHU Bologna Center, and Christopher Findlay, Executive Dean, Faculty of the Professions. It brought together policymakers, academics and private sector representatives for open and free-ranging discussion, under the Chatham House Rule.
Professor Peter Draper, Institute for International Trade
Since the US created the post-World War Two liberal international order and is still the pre-eminent global power notwithstanding the growing Chinese challenge, it is uniquely placed to determine the trade and investment system’s fortunes.
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