EPP Group ready to put on the boxing gloves when trade is at stake
Parliament’s trade committee is voting to give teeth to the so-called Enforcement Regulation.
EPP Group rapporteur Anna-Michelle Asimakopoulou explains
Anna-Michelle Asimakopoulou MEP (Greece): 1:45 to 2:06: “The WTO crisis is really a symptom of a hostile and increasingly volatile international environment in which you’ve seen China and the United States both weaponize trade, so the EU is now vulnerable. We need a weapon. We need a trade bazooka, and this is what we think the enforcement regulation should turn in to.”
Kevin VO :It means the EU can trigger countermeasures where dispute settlement procedures are blocked.
The EPP Group says this should not just apply to goods but to services and protecting Intellectual property rights
So what form can sanctions take?
Anna-Michelle Asimakopoulou MEP (Greece):3:14 to 3:40
“Typically, on goods, what you do is slap on tariffs or you work with the quotas. In the field now of services, you could have taxes basically. You could impose taxes on service providers and when it comes to IPR you could increase royalties or you can change the amount of time it takes for patents or patents supply so there are various ways to do it as long as you have the right under the regulation.”
Kevin VO:Anna-Michelle Asimakopoulou says overall, the new tools will protect the EU’s interests
Anna-Michelle Asimakopoulou MEP (Greece):3:51 to 5:16
“This is the geopolitical Commission and it’s trying to increase Europe’s geopolitical clout and credibility and in the field of trade at the moment this basically means having a much stronger toolbox to use in situations when you’re under attack and also for it to act as a deterrent so that you’re not easily attacked”
Laura BarriosEPP TV Assistant ProducerBelgiumlaura.email@example.com+322-2841845