This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.guardian.co.uk/world/2012/sep/26/ukraine-raise-import-tariffs-us
The article has changed 7 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Ukraine plan to raise import tariffs on range of goods alarms US | Ukraine plan to raise import tariffs on range of goods alarms US |
| (7 months later) | |
| The US on Wednesday reacted with alarm to Ukraine's plan to introduce sweeping protectionist measures and warned that the actions by the eastern European country could have damaging consequences for the entire global trading system. | The US on Wednesday reacted with alarm to Ukraine's plan to introduce sweeping protectionist measures and warned that the actions by the eastern European country could have damaging consequences for the entire global trading system. |
| Amid growing concerns that a synchronised slowdown in the global economy could prompt countries to erect trade barriers, the government in Kiev announced this week that it was raising tariffs on more than 350 goods affecting imports worth $4.6bn (£2.9bn). | Amid growing concerns that a synchronised slowdown in the global economy could prompt countries to erect trade barriers, the government in Kiev announced this week that it was raising tariffs on more than 350 goods affecting imports worth $4.6bn (£2.9bn). |
| Trade diplomats in Geneva fear that the changes sought by Ukraine to products including cars, trucks, agricultural machinery, meat, flowers, fruit, vegetables, washing machines and syringes, will be seen as an attempt to renegotiate the terms of its membership of the World Trade Organisation, with knock-on effects in other countries. | Trade diplomats in Geneva fear that the changes sought by Ukraine to products including cars, trucks, agricultural machinery, meat, flowers, fruit, vegetables, washing machines and syringes, will be seen as an attempt to renegotiate the terms of its membership of the World Trade Organisation, with knock-on effects in other countries. |
| "We are very concerned about the systemic implications of what Ukraine is contemplating, and I would say that there's a broad diversity of WTO members that are concerned about what Ukraine is contemplating," said Michael Punke, the US ambassador to the WTO, in Geneva. "To give you an example of how broad that diversity is, this is an issue where I anticipate we'll be working very closely with countries like Brazil to address our concerns." | "We are very concerned about the systemic implications of what Ukraine is contemplating, and I would say that there's a broad diversity of WTO members that are concerned about what Ukraine is contemplating," said Michael Punke, the US ambassador to the WTO, in Geneva. "To give you an example of how broad that diversity is, this is an issue where I anticipate we'll be working very closely with countries like Brazil to address our concerns." |
| Officials in Geneva said Ukraine was entitled to seek increases in tariffs under an obscure part of the WTO rule book, Article 28 of the General Agreement on Tariffs and Trade, which in the past has been used rarely and usually for fewer than 10 tariffs at a time. | Officials in Geneva said Ukraine was entitled to seek increases in tariffs under an obscure part of the WTO rule book, Article 28 of the General Agreement on Tariffs and Trade, which in the past has been used rarely and usually for fewer than 10 tariffs at a time. |
| Ukraine will now have to enter into negotiations with other WTO members, which will seek compensation for the proposed changes. But given Ukraine's relatively small range of exported products, the EU fears that talks may fail and that Kiev may raise tariffs unilaterally, prompting retaliatory measures. | Ukraine will now have to enter into negotiations with other WTO members, which will seek compensation for the proposed changes. But given Ukraine's relatively small range of exported products, the EU fears that talks may fail and that Kiev may raise tariffs unilaterally, prompting retaliatory measures. |
| Russia, Ukraine's neighbour, has only just joined the WTO after long and difficult negotiations on its terms of entry and will be one of the countries looking for a swift resolution to the current problem. | Russia, Ukraine's neighbour, has only just joined the WTO after long and difficult negotiations on its terms of entry and will be one of the countries looking for a swift resolution to the current problem. |
| Pascal Lamy, director-general of the WTO, has repeatedly warned of the risks of a drift into tit-for-tat protectionism since the financial crisis first erupted five years ago, and Ukraine's move comes at a time when growing tensions have been illustrated by a trade spat between the US and China. | Pascal Lamy, director-general of the WTO, has repeatedly warned of the risks of a drift into tit-for-tat protectionism since the financial crisis first erupted five years ago, and Ukraine's move comes at a time when growing tensions have been illustrated by a trade spat between the US and China. |
| guardian.co.uk today is our daily snapshot of the top news stories, sent to your inbox at 8am |