On 17 June, the European Commission released its White Paper “on levelling the playing field as regards foreign subsidies.” The White Paper is built on the conclusion that foreign subsidies can undermine competition and distort the EU internal market. It aims at introduction of new EU legislation to address the regulatory “gap” between the EU state aid rules applying to subsidies granted by the EU Member States to EU entities and the current lack of rules to redress the behavior of corporate actors in the EU whose market actions are unfairly facilitated by unregulated foreign subsidies. Beyond mergers in the EU involving foreign subsidized companies, the legislation would also address concerns about foreign subsidized actors in the context of EU public procurement and access to EU funding.

At the start of her mandate, Commission President Ursula von der Leyen had announced her wish to develop tools and policies to better tackle the distortive effects of foreign state ownership and subsidies in the internal market. The COVID-19 crisis encouraged a swift move on this initiative, as pointed out by Executive Vice-President Margrethe Vestager and Commissioner Thierry Breton, who are co-responsible for this dossier.Continue Reading The European Commission releases a White Paper on foreign subsidies in the Single Market

A recent letter from former high-ranking European Commission officials to the current Commission President Ursula von der Leyen raises various trade and market protection concerns and urges the Commission to take certain actions.

The letter raises legitimate areas of concern both as regards the current crisis in global trade and EU trade policy more generally.

Click here to visit Steptoe’s COVID-19 International Trade Resource Page to learn how COVID-19 is impacting international trade.

How is COVID-19 shaping the US-China trade dispute? Will the pandemic affect pending US trade remedy proceedings? What will happen to US international trade negotiations?

The global COVID-19 pandemic has had, and will continue to have, significant