Hong Kong and Peru last week concluded talks on a free trade deal and hope to soon “finish the few remaining issues” before formally signing an agreement later this year, Hong Kong’s Commerce and Economic Development Bureau said in a May 17 news release. The deal is expected to cover trade in goods and services, including e-commerce and “other related areas,” said Algernon Yau, Hong Kong’s commerce and economic development secretary. The two sides completed the negotiations on the sidelines of the Asia-Pacific Economic Cooperation Ministerial meetings in Arequipa, Peru.

American, German and British environmental and trade politics experts agreed at an American-German Institute event on "Squaring the Transatlantic Circle" on climate policy that although it seems like Western Europe and the U.S. should be united on goals and interests, their economic competition and even pride stand in the way.

China and Switzerland held talks May 10 on upgrading the free trade agreement between the two countries, China's Ministry of Commerce said, according to an unofficial translation. Following the talks in Beijing, the parties agreed to "jointly implement the consensus reached by the leaders of the two countries" and boost the start of talks to upgrade the FTA, the ministry said.

Former top officials in the Office of the U.S. Trade Representative during the Trump and Biden administrations said there will be no return to a pre-Trumpian, pro-free trade philosophy, whether Joe Biden wins re-election this fall or Donald Trump returns to the White House in 2025.

The EU-U.S. Trade and Technology Council likely will continue if former President Donald Trump is reelected, European Commission officials said at a briefing April 3. The sixth TTC meeting takes place April 4-5 in Leuven, Belgium. It's the last of this political cycle, given U.S. and European elections later in the year. The EC doesn't expect too much disruption of its work, which includes deliverables on 6G, platforms, standardization, artificial intelligence and quantum computing, officials said.

The annual report on foreign trade barriers, which covers intellectual property, agricultural exports and e-commerce, as well as all other goods and services, highlighted non-tariff barriers to ag exports, such as sanitary and phytosanitary (SPS) measures that are not based on science, burdensome facility registration requirements, and barriers to poultry in countries affected by highly pathogenic avian influenza that are not justified by the risk, in the U.S. view.

India earlier this month signed a trade and economic partnership deal with the European Free Trade Association, which is expected to expand market access between the two sides and simplify customs procedures. The deal will make it “easier for Indian and EFTA businesses to expand their operations in the respective markets,” said the EFTA, which includes Iceland, Liechtenstein, Norway and Switzerland.

The Council of the EU on March 18 cleared the final hurdle to ratification of the EU-Chile bilateral trade agreement (see 2312050013), the council announced. After Chile completes its "internal ratification process" and the two sides have "communicated the completion of their respective internal procedures," the deal will take effect on "the first day of the third month following the date of notification," the council said.

The Indo-Pacific Economic Framework for Prosperity, even without its trade pillar completed, is moving toward implementation with the establishment of an IPEF Council that will meet annually. The council will consider proposals to negotiate new agreements, enhance trade or economic relations, or amend IPEF; consider other countries' interest in acceding to IPEF; and adopt its rules.

China and Honduras this month signed an early harvest free trade agreement after conducting three rounds of trade negotiations, China’s Ministry of Commerce said. “Both parties agreed to implement their respective domestic procedures and promote the early entry into force of early harvest arrangements,” the ministry said, according to an unofficial translation. “At the same time, we will accelerate the negotiation of the free trade agreement and strive to complete it as soon as possible.”