Pandemic Clause In Trade Agreement

Trump, who has turned to lying to have all other countries « rip off » American taxpayers by generating trade surpluses with the United States, began his trade war with China in 2018 with increased tariffs on its imports. This has increased costs for U.S. consumers and caused devastating farmers who have lost billions in sales to China after imposing retaliatory duties. He said the pandemic underscored the importance of strong intellectual property protection to promote innovation in the development of new medicines and other health technologies. However, China could invoke a clause in the agreement that allows for further trade consultations between the two countries « in the event of a natural disaster or other unforeseen event » the ability of one of the parties to verify that the clauses are being complied with, according to the Commission`s report, a copy of which was received. If no existing rights have been expressly agreed in the treaty, the disclaimer under Article 79, paragraph 1 of the united Nations sale law (hereafter the « convention ») may be considered if the countries of the business premises of the contracting parties are signatories to the agreement and the parties have not expressly excluded its application. : At present, many domestic foreign trade firms have suffered heavy losses as a result of the removal of orders abroad. If the foreign buyer is not affected by a case of force majeure, he is not allowed to demand the direct termination of the trade agreement because of the pandemic, unless the foreign buyer specifies that the pandemic has resulted in prohibitive provisions in his country of origin or a decrease in the quality of the goods, so that the objective of the contract cannot be achieved. , or other legal agreements or reasons for termination of the treaty have emerged as a result of the pandemic. If the laws of another country can be established in accordance with the treaty, the question of whether the pandemic constitutes a case of force majeure will be analysed in a concrete way on the basis of the specific provisions of the treaty, the laws and regulations of that country in terms of force majeure.