In response to the impact of the U.S. tariff policy on international trade, the EU announced the launch of free trade agreement negotiations with the UAE. New Zealand also began talks with the EU, proposing enhanced cooperation on trade issues between the EU and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) member countries.

On April 10 local time, the European Commission's official website announced that EU Commission President Ursula von der Leyen had a telephone conversation with UAE President Mohammed bin Zayed Al Nahyan that day. The two agreed to initiate free trade agreement negotiations.

According to the EU Commission, the negotiations will focus on promoting trade in goods and services as well as bilateral investment between both sides, and strengthening cooperation in strategic areas such as renewable energy, green hydrogen, and critical raw materials.

The UAE national media added that the free trade agreement will also strengthen cooperation between both parties in key areas such as advanced manufacturing, logistics, AI, and healthcare.

The EU is the UAE's second-largest trading partner, with non-oil trade reaching $67.6 billion last year. UAE media pointed out that technical negotiations on the free trade agreement with the EU have been ongoing for a year, and the UAE hopes to deepen cooperation with the EU in digital and energy sectors.

Free trade agreement negotiations typically last three to five years, but the UAE is pushing to complete the negotiations within one year. As early as 1990, the EU began free trade agreement negotiations with the Gulf Cooperation Council (GCC), but the negotiations were suspended in 2008. The UAE is a GCC member and is seeking to reach an agreement separately with the EU.

In addition to the UAE, New Zealand has also begun discussions with Asia-Pacific trade partners and the EU on how to respond to U.S. tariff measures. New Zealand Prime Minister Christopher Raxson spoke with leaders from Singapore, Vietnam, Malaysia, and the EU on Thursday.

New Zealand, Singapore, Vietnam, and Malaysia are all members of the CPTPP, along with Canada, Mexico, Australia, Japan, and others. The predecessor of the CPTPP was the Trans-Pacific Partnership (TPP), which the U.S. participated in negotiations during Barack Obama's presidency. During his first term, Donald Trump led the U.S. to withdraw from the TPP. Subsequently, the remaining 11 members signed a new free trade agreement, the CPTPP. China officially applied to join the CPTPP in 2021.

In response to Trump's tariff policies, Raxson proposed that CPTPP members cooperate with the EU to promote rule-based international trade and make specific commitments on how to act. Raxson also plans to visit the UK this month to discuss trade issues with the UK.

Australian Foreign Minister Penny Wong revealed that Australian officials held consultations with Southeast Asian countries, Japan, South Korea, India, and EU officials to discuss how to jointly address Trump's tariff measures. She emphasized that many countries understand the benefits of free, open, and fair trade.

Tuesday, U.S. Democratic Senator Mark Warner questioned U.S. Trade Representative Jammison Greer at a congressional hearing, asking why the U.S. still imposed tariffs on Australia despite having a trade surplus in goods with Australia and a free trade agreement. Greer did not directly answer, only stating that the U.S. tariff measures on the global stage aim to address the $1.2 trillion deficit left by the Biden administration.

Original Source: https://www.toutiao.com/article/7491900365332365824/

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