The European Union, the United States and Japan agreed on Wednesday to update the provisions of the trilateral trade partnership so as to counteract global problems due to the practices of third countries.
“Ambassador Katherine Tai, United States Trade Representative, Hagiuda Koichi, Minister of Economy, Trade and Industry of Japan, and Valdis Dombrovskis, Executive Vice President of the European Commission, announced an agreement to renew the Trilateral Partnership to address global challenges generated by non-market economy policies and third country practices “, announces the Trade Commission of the European Commission, according to a communiqué posted on its own website and viewed by MEDIAFAX.
The delegations of the European Union, the United States and Japan will resume activities in the coming weeks, and will have direct contacts on the occasion of the Ministerial Conference of the World Trade Organization (WTO), scheduled in the Swiss city of Geneva, according to Mediafax.ro.
In January 2020, the European Union, the United States and Japan agreed to tighten regulations on subsidies in the industrial sector and condemned the practices of forced technology transfer, by which some countries condition the access of foreign companies to the provision of information on technologies.
The European Union and the United States frequently criticize China’s trade practices, especially those on state subsidies.