Tariff!
Tariff!
49 comments
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This seems to be referencing Regulation (EU) 654/2014, an EU law which allows the EU to unilaterally enact countermeasures against countries that break the WTO's rules.
The countermeasures listed in article 5 are:
- Imposing tarriffs and customs duties
- Trade restrictions/quotas
- Cancelling contracts between the EU and the target country
- Cancelling the target country's intellectual property rights (e.g. patents/copyrights)
- Banning public procurement from the target country
- Implementing price penalties for public procurement from the target country
The law was amended in Regulation (EU) 2021/167 in response to the Trump (and now Biden) administrations blocking the appointment of judges to the WTO and using a loophole to kill the WTO's enforcement mechanism.
More context from the EU parliament:
https://www.europarl.europa.eu/RegData/etudes/BRIE/2020/652021/EPRS_BRI(2020)652021_EN.pdfThe fact that the EU can just suspend American patents and copyrights is pretty insane. Could be some huge benefits for European companies and movie pirates.
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❤️“Cancelling the target country's intellectual property rights” ❤️
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If EU did that, it would probably result in equal retaliation. It would mean that all patents and IP would become local. Stealing these things from others continents would become fair game, which would make patents and IP almost completely pointless.
Could we please try that out? Sounds like an interesting scenario.
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Thanks for context!
I hope that as soon as the US will act more iffy, these countermeasures will kick in, as even the US should know then that they aren't all mighty.
I don't know if you have more info, but are these measures reversible or absolute?
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The regulation text says that the measures are enacted by the European Commission putting out an implementing act. Article 7 says that they may repeal the implementation if the third country resolves the conflict. So it seems that they can only remove the measures if the third country gives up.
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There's also other fun regulations like it being illegal for EU companies to comply with US sanctions on Cuba. If they ever hit a roadblock of any kind they're required to contact the EU commission who will help out in the form of civil servants specialised in sanction busting.
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the EU can just suspend American patents and copyrights
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Heads up that last link is broken.
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Ah thank you, fixed now.
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This feels like parental punishment and I'm all for it. lol
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The EU would need to have the balls first. USAian propaganda has seeped into this continent for so long that it has affected the populace deeply. If the EU did something to threaten iPhone, WhatsApp, or Starbucks availability in the EU, that would be cause for an uprising.
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Go speak to a frenchman
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Is EU not tariffed yet?
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Probably won’t be either! The original purpose of our alliance was precisely so that our very small and smallish countries wouldn’t be fucked by economic superpowers!
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Hope Mercosur get to that level kn my lifetime
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nope
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It's not morning yet
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The US and Britain blew up the Nordstream pipeline. The EU is dependent on the US for energy unless they devise a solution with Russia. This will be used to America's advantage.
49 comments