EU Publishes Annual Report on Trade Policy Implementation
The EU this week published its fifth annual report on the implementation and enforcement of EU trade policy, outlining steps that the bloc has taken to remove trade barriers, the status of various trade agreements, trade trends from the past year, and more.
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The European Commission said increased exports to Mexico, Norway, Switzerland and the U.K. helped compensate for reduced sales of vehicles, vehicle parts and electrical machinery due to EU sanctions against Russia. Increased imports of gas and liquefied gas from Algeria, Kazakhstan and Norway, as well as imports of copper from Chile, helped compensate for a drop in those imports from Russia.
It also said EU businesses continued to face restrictive export controls on raw materials and other "critical" goods, specifically pointing to Indonesia’s export ban on nickel ore, China’s restrictions on rare earths, and export bans on lithium imposed by Namibia and Zimbabwe. It also pointed to the Biden administration's AI diffusion rule -- which the Trump administration has announced plans to rescind (see 2506110008) -- that was set to "restrict export access to advanced semiconductors for over 120 countries."