Tag Archives: deal

Brexit Deal Clears Parliament, Paving U.K.’s Way to Leave the EU

Brexit Deal Clears Parliament, Paving U.K.’s Way to Leave the EU(Bloomberg) — Prime Minister Boris Johnson’s Brexit deal cleared its final hurdles in Parliament, bringing the crisis that paralyzed U.K. politics since the country voted to leave the European Union almost four years ago to a close.The passage of the law vindicates Johnson’s gamble to call an election last month in which he asked voters to back his blueprint for leaving the bloc on Jan. 31. His 80-seat majority in the elected House of Commons meant he could sweep aside objections from pro-EU politicians in the upper chamber of Parliament, the Lords, and break the deadlock that cost his predecessor, Theresa May, her job last year.“At times it felt like we would never cross the Brexit finish line, but we’ve done it. Now we can put the rancour and division of the past three years behind us,” Johnson said, according to an emailed statement.Later Wednesday, members of the unelected House of Lords formally dropped their opposition and accepted the legislation as approved by the Commons. The bill will now go to Queen Elizabeth II who will sign it into law, putting Britain on track to leave the EU in eight days’ time.The agreement with the EU will now need to be formally ratified by the European Parliament on Jan. 29, before the U.K. leaves the bloc at the end of the month. Britain will then enter a transition period, scheduled to last until the end of the year, during which it will continue to be bound by EU laws until it negotiates a new trade deal with the remaining 27 member states.Johnson is expected to sign the agreement in the coming days, and the European Council and Commission presidents may sign it Friday in Brussels, according to a U.K. government official.U.K., EU Draw Battle Lines as the Hard Part of Brexit Begins“We’re in a very happy position in that we leave the EU in a position of absolute grace and uniformity,” Johnson said as he answered questions from the public about the future negotiations with Brussels on Facebook. “We are in perfect alignment with our EU friends and partners.”Looking ahead, Chancellor of the Exchequer Sajid Javid acknowledged Johnson’s Dec. 31 deadline for reaching a new trade deal with the EU was “tight.”“Both sides recognize that it’s a tight timetable, a lot needs to be put together in the time that we have, but it can be done,” Javid said during a panel discussion at the World Economic Forum in Davos, Switzerland. “And it can be done for both goods, where we want to see free trade, zero tariffs, zero quotas — but also on services.”The House of Lords had tried to amend the Brexit legislation to enhance EU citizens’ rights in Britain, allow judges — rather than ministers — to decide on the use of rulings by European Courts, and to ensure unaccompanied refugee children can join family in the U.K. All the measures were rejected by the Commons. Johnson’s government rejected these changes and pushed the Lords to back down.\–With assistance from Lucy Meakin, Olivia Konotey-Ahulu, Ian Wishart and Jessica Shankleman.To contact the reporter on this story: Thomas Penny in London at tpenny@bloomberg.netTo contact the editors responsible for this story: Tim Ross at tross54@bloomberg.net, Edward EvansFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.



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Philippine President Duterte threatens to end military deal with U.S.

Philippine President Duterte threatens to end military deal with U.S.Philippine President Rodrigo Duterte warned the United States on Thursday he would repeal an agreement on deployment of troops and equipment for exercises if Washington did not reinstate the visa of a political ally.



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Greek Prime Minister Says Turkey-Libya Deal Is Unacceptable and Illegal

Greek Prime Minister Says Turkey-Libya Deal Is Unacceptable and Illegal(Bloomberg) — Turkey’s maritime border agreement with Libya is unacceptable and illegal, Greek Prime Minister Kyriakos Mitsotakis said, amid growing tension in the eastern Mediterranean.“Turkey has been difficult to deal with,” Mitsotakis said in an interview with Bloomberg in Davos Thursday. “There’s a constant state of provocation, which leads Turkey nowhere.”The premier, who’s focused on bringing the country back from a crippling economic crisis since he took office in July, has been waylaid by smoldering geopolitical tensions in the east Mediterranean.Long-contentious relations with neighboring Turkey soured further in November when Ankara signed a maritime agreement with Libya in a bid to solidify claims to waters off the coast of Greece and Cyprus.“We don’t need Turkey’s permission,” to be able to supply Europe with Cypriot, Israeli or potential Greek gas, Mitsotakis said earlier in Davos. The pact signed by Libya and Turkey has an impact for the planned EastMed pipeline project, he said.Turkish President Recep Tayyip Erdogan is now threatening to start drilling for natural gas in the maritime area Greece claims as its own under international law.Libyan Commander Khalifa Haftar’s visit to Athens last week ahead of a summit in Berlin only raised the stakes, with Turkey accusing Greece of sabotaging the Libya peace process.\–With assistance from Sotiris Nikas.To contact the reporter on this story: Eleni Chrepa in Athens at echrepa@bloomberg.netTo contact the editors responsible for this story: Sotiris Nikas at snikas@bloomberg.net, Jerrold Colten, Paul TugwellFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.



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China Tries to Ease Concern U.S. Trade Deal Hurts Other Nations

China Tries to Ease Concern U.S. Trade Deal Hurts Other Nations(Bloomberg) — Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Chinese Vice Premier Han Zheng told the World Economic Forum that the country’s trade deal with the U.S. won’t hurt rival exporting nations as complaints mount from governments that were left out of the agreement.In the most high-profile remarks on the country’s economic policy since the accord was signed last week, Han said that its commitment to buy more from the U.S. is in line with its World Trade Organization obligations and won’t squeeze out other imports. Han also pledged to lower barriers for foreign investors as he set out the case for China’s engagement with the global economy.“China will open its door wider,” Han told an audience in Davos, Switzerland. “Though facing some protectionism from some countries, the determination to open up will not waver.”The speech comes less than a week after Chinese President Xi Jinping sealed a “phase one” deal intended to de-escalate a trade war with U.S. President Donald Trump. The accord saw China commit to crack down on the theft of American technology and corporate secrets by its companies and state entities, while outlining a $ 200 billion spending spree to try to close its trade imbalance with the U.S.“The phase-one trade deal is good for U.S., China and the world,” Han said. “China’s increasing purchases of U.S. goods are in accordance with WTO guidelines and will not impact its imports from other countries.”Han made the comments just as Trump gave his own speech in Davos, in which the U.S. president claimed credit for overseeing an economy enjoying its longest expansion yet, with an unemployment rate that fell to a five-decade low after tax cuts, deregulation and improved trade deals. He also spoke of his close relationship with Xi.“He’s for China and I’m for the U.S., but other than that, we love each other,” he said.Under the agreement, China will boost purchases of U.S. manufactured goods, agricultural products, energy and services over the next two years. Critics say such pre-determined demand can have adverse consequences elsewhere.‘Managed Trade’”The real problem with managed trade is that it may divert, rather than expand, international commerce,” Chad Bown, a senior fellow and trade expert at the Peterson Institute for International Economics in Washington, said in a report released Tuesday. “For example, China could purchase more American soybeans by cutting back on imports of oilseeds from Brazil.”Germany’s Kiel Institute for the World Economy said China’s pledge to boost American imports could end up costing the European Union about $ 11 billion next year. “If trade costs and hence relative prices do not change, Chinese imports from the U.S. must come at the expense of third countries,” the institute said in a study published this week.Last week, EU trade commissioner Phil Hogan said his team will scrutinize whether China’s pledge is allowed under the WTO.“We haven’t analyzed the document in detail, but we will and if there’s a WTO-compliance issue of course we will take the case,” Hogan told a conference on Thursday in Washington.Separately, Australia is pushing China for the same dairy concessions that the U.S. received, according to the Sydney Morning Herald. As part of phase one of the deal, the U.S. secured regulatory breaks on dairy products shipped to China, barriers that have hampered Australian exporters, the newspaper reported last week.To contact the reporters on this story: Dandan Li in Beijing at dli395@bloomberg.net;Crystal Chui in Zurich at tchui4@bloomberg.net;Bryce Baschuk in Geneva at bbaschuk2@bloomberg.netTo contact the editors responsible for this story: Brendan Scott at bscott66@bloomberg.net, Ben Sills, Brendan MurrayFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.



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Mexican official eyes stronger ties with China after U.S. trade deal

Mexican official eyes stronger ties with China after U.S. trade dealMexico should move to deepen its economic ties with China after U.S. congressional approval of a new North American trade deal, a senior Mexican official said late on Saturday. Jesus Seade, the deputy foreign minister for North America and Mexico’s top trade negotiator, said that as the second year of President Andres Manuel Lopez Obrador’s six-year term got underway, boosting economic ties with China was vital.



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Trump's U.S.-China Trade Deal Is Far From Perfect

Trump's U.S.-China Trade Deal Is Far From PerfectHere are three problems.



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Taliban aim to sign deal with US by end of month: report

Taliban aim to sign deal with US by end of month: reportThe Taliban are aiming to reach a withdrawal agreement with the US by the end of January and are prepared to “scale down” military operations ahead of signing the deal, according to their chief spokesman. The statement by Suhail Shaheen to Pakistani daily Dawn comes as the group and the US held discussions in Doha this week, after insurgent sources told AFP they had offered to initiate a brief ceasefire. “We have agreed to scale down military operations in days leading up to the signing of the peace agreement with the United States,” Shaheen told Dawn in a report published Saturday.



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Trump threatened UK with 25% car tariffs unless it agreed to accuse Iran of breaking nuclear deal

Trump threatened UK with 25% car tariffs unless it agreed to accuse Iran of breaking nuclear dealDonald Trump threatened the UK with a 25 per cent tariff on its cars unless the British government officially accused Iran of breaking the 2015 nuclear deal, it has been reported.The secret threat last week, first reported by The Washington Post, which cited unnamed European officials, would have seen the tariff imposed on all European automobile imports to the US unless Britain, France and Germany agreed to the ultimatum.



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Iran President Suggests Western Troops ‘Could Be in Danger’ over Threats to Nuclear Deal

Iran President Suggests Western Troops ‘Could Be in Danger’ over Threats to Nuclear DealIranian President Hassan Rouhani said that U.S. and European troops are in “danger” after Germany, France, and the United Kingdom triggered a dispute mechanism in the Obama-led Iran nuclear deal.“Today, the American soldier is in danger, tomorrow the European soldier could be in danger,” Rouhani said in a televised cabinet meeting. “We want you to leave this region but not with war. We want you to go wisely. It is to your own benefit.”Rouhani also angrily reiterated that Iran does not seek a nuclear weapon.The three European powers announced their decision to invoke the conflict resolution mechanism on Monday in a joint statement, saying that had been “left with no choice, given Iran’s actions.”Following a U.S. airstrike that killed general Qasem Soleimani, the head of the Iranian Revolutionary Guard’s elite Quds Force, Iran announced it was ending “its final limitations” under the nuclear deal.The dispute mechanism allows for a disputation process that will last 15 days. If no solution is agreed upon, Iran could face reimposed sanctions from the international community.President Trump took the U.S. out of the nuclear deal in May 2018, despite the protestations of European leaders, after calling the deal “one of the worst and most one-sided transactions the United States has ever entered into.”“It is clear to me we cannot prevent an Iranian nuclear bomb, under the decaying and rotten structure of the current agreement,” the President said at the time.Iran first made public a major breach of the deal in July when it exceeded the allotted 3.67 percent maximum uranium enrichment, while remaining far short of the 90 percent required to construct a nuclear weapon.



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Al Sharpton Warns Democrats over Impeachment Focus: ‘Deal with Kitchen-Table Issues’

Al Sharpton Warns Democrats over Impeachment Focus: ‘Deal with Kitchen-Table Issues’Reverend Al Sharpton cautioned Democrats on Friday over ignoring “kitchen-table issues” in the race to defeat Donald Trump, saying “right now we cannot say with any comfort that Donald Trump would not be re-elected.”Appearing on MSNBC’s Morning Joe to discuss impeachment, Sharpton warned that a hyper-focused Democratic effort to impeach Trump could distract from a vision of “how we move forward.”“Where a lot of the Democrats have made a mistake is they’ve fed into a narrative that Trump is dictating, rather than saying ‘okay, let them do that — I’m back, involved in trying to make you and your life work,’” Sharpton said. “That’s the person that could beat Donald Trump.”Sharpton urged that Democrats needed to frame the discussion in order to have “Trump react to that, rather than we react to Trump,” arguing that the president feeds of the negative attention he receives.> Underlining the need for 2020 Dem contenders and the media to stop focusing on Trump, instead we need to focus on a better agenda for America. MorningJoe pic.twitter.com/9A5nYxs0Ix> > — Reverend Al Sharpton (@TheRevAl) December 27, 2019 He also pointed to the danger that an election driven by impeachment could devolve into “wonderland” and “nerd politics.”“The election is about me, my house, food on my table, my kid’s tuition.” Sharpton said. “If they can’t address that, they’re going to miss everybody.”“. . . I think voters really that are struggling, which are a lot of the base, which is a lot of base of the Democratic Party, are really trying to deal with kitchen-table issues,” Sharpton continued. That’s what we’ve got to address, particularly while you have a president that’s bragging about the economy. Right now we cannot say with any comfort that Donald Trump would not be re-elected. That should make us uncomfortable.”A Friday article from the Wall Street Journal showed wages for low-skilled workers are rising at the fastest rate in more than a decade amid a tight labor market, while in recent months unemployment hit its lowest rate since 1969 and record lows for minorities.



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