US, EU, Others Put Export Credit Negotiations On Ice

Law360 (November 19, 2020, 10:15 PM EST) -- The United States, along with more than half the members of an international body tasked with updating export financing standards, staged an administrative walkout Thursday, issuing a joint statement of protest over some member states' lack of transparency.

Australia, Brazil, Canada, the European Union, Japan, Korea, New Zealand, Norway, Switzerland, Turkey and the U.S. simultaneously announced that they would be leaving the International Working Group on Export Credits temporarily. They suggested reconvening in a year to assess the viability of resuming negotiations for new international disciplines, leaving the door open to "credible proposals, especially on transparency" in the interim.

"We cannot...

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