India, Brazil, South Africa and other emerging economic powers were put under pressure by EU trade chief Peter Mandelson on Monday to compromise on opening up their manufacturing markets in world trade talks.
The EU's trade commissioner said the countries were risking a failure of ongoing negotiations at the WTO in Geneva.
"On industrial tariffs, the negotiation is now in danger of going wrong," Mandelson told lawmakers at the European Parliament. "Emerging countries have to exercise responsibility commensurate with their importance and relative strength compared to the poorest. To some extent, they now hold the key to a conclusion of the talks."
A large group of developing nations, which also include Argentina, Indonesia, the Philippines and Venezuela, said last month they were seeking new exceptions for the manufacturing products that make up the vast majority of goods traded internationally.
Mandelson said such a position would put them in a position where they "will end up making next to no contribution to new trade flows" in the new trade round.
"That is simply not acceptable," Mandelson said. "Not just for the EU, but because this would negate any gains" for trade between poor nations.
He added that demands made to the emerging economic powers "are modest and proportionate" in cutting industrial tariffs under current trade proposals.
The US has also criticized Brazil and others for refusing to open up their manufacturing markets, warning that could spell failure of the six-year WTO round to liberalize world commerce.
In September, the US said it would accept a WTO proposal to limit its trade-distorting farm subsidies to a range between US$13 billion and US$16.4 billion if emerging economies do more to free up trade in manufacturing goods.
The global trade talks known as the Doha round aim to add billions of dollars to the world economy and lift millions of people out of poverty through free trade. But they have repeatedly stalled since their inception in Qatar's capital in 2001, largely because of wrangling between rich and poor nations over eliminating barriers to farm trade and, more recently, manufacturing trade.
Authorities have detained three former Taiwan Semiconductor Manufacturing Co (TMSC, 台積電) employees on suspicion of compromising classified technology used in making 2-nanometer chips, the Taiwan High Prosecutors’ Office said yesterday. Prosecutors are holding a former TSMC engineer surnamed Chen (陳) and two recently sacked TSMC engineers, including one person surnamed Wu (吳) in detention with restricted communication, following an investigation launched on July 25, a statement said. The announcement came a day after Nikkei Asia reported on the technology theft in an exclusive story, saying TSMC had fired two workers for contravening data rules on advanced chipmaking technology. Two-nanometer wafers are the most
NEW GEAR: On top of the new Tien Kung IV air defense missiles, the military is expected to place orders for a new combat vehicle next year for delivery in 2028 Mass production of Tien Kung IV (Sky Bow IV) missiles is expected to start next year, with plans to order 122 pods, the Ministry of National Defense’s (MND) latest list of regulated military material showed. The document said that the armed forces would obtain 46 pods of the air defense missiles next year and 76 pods the year after that. The Tien Kung IV is designed to intercept cruise missiles and ballistic missiles to an altitude of 70km, compared with the 60km maximum altitude achieved by the Missile Segment Enhancement variant of PAC-3 systems. A defense source said yesterday that the number of
A bipartisan group of US representatives have introduced a draft US-Taiwan Defense Innovation Partnership bill, aimed at accelerating defense technology collaboration between Taiwan and the US in response to ongoing aggression by the Chinese Communist Party (CCP). The bill was introduced by US representatives Zach Nunn and Jill Tokuda, with US House Select Committee on the Chinese Communist Party Chairman John Moolenaar and US Representative Ashley Hinson joining as original cosponsors, a news release issued by Tokuda’s office on Thursday said. The draft bill “directs the US Department of Defense to work directly with Taiwan’s Ministry of National Defense through their respective
Tsunami waves were possible in three areas of Kamchatka in Russia’s Far East, the Russian Ministry for Emergency Services said yesterday after a magnitude 7.0 earthquake hit the nearby Kuril Islands. “The expected wave heights are low, but you must still move away from the shore,” the ministry said on the Telegram messaging app, after the latest seismic activity in the area. However, the Pacific Tsunami Warning System in Hawaii said there was no tsunami warning after the quake. The Russian tsunami alert was later canceled. Overnight, the Krasheninnikov volcano in Kamchatka erupted for the first time in 600 years, Russia’s RIA