05.10.2022

The United States has approved the acquisition of Fox from the Disney

The U.S. Department of justice approved the acquisition by conglomerate the Walt Disney company 21st Century Fox.

In the press release of the Ministry of justice of the USA noted that a condition of approval of the transaction is the sale from the Disney network of regional channels, Fox Sports Regional Networks. For the sale of the assets from Disney will not be less than 90 days after the closing of the transaction.

The Portal “News.The economy” has reported that on 20 June the world’s largest media conglomerate the Walt Disney Company and media company 21st Century Fox has reached an agreement to purchase the major part of the assets of Fox for $71,3 billion.

The company came to an agreement after Walt Disney increased its offer to buy 21st Century Fox at $10 per share compared with its previous proposal, also exceeding the supply media companies Comcast about buying Fox $3 per share.

The EU promise to respond to new US tariffs

European Union leaders pledged to strongly respond to the protectionism of the US President Donald trump, signaling a readiness for retaliation, if the United States will lead to escalation of the trade war and impose tariffs on cars, reports Bloomberg.

The EU authorities have repeatedly criticized the American steel tariffs and expressed support for measures in response to the actions of trump. Last week, the EU responded by setting the same tariffs on American goods a total volume of 2.8 billion euros ($3.2 billion).

Trump also threatens to use national security as the main argument for imposing tariffs on the import of cars and spare parts from the EU. This measure may affect all EU countries more than tariffs on steel and metals.

How to write “News.Economy”, the use of the administration trump’s fees in the amount of 25% for cars and components of foreign production will lead to significant negative consequences for automotive companies worldwide, including in the United States.

About it in the press release for the report assessing the potential impacts of the introduction of fees stated in the Agency Moody’s Investors Service.

As noted, the implementation of threats trump will have a negative impact on the credit rating of most automakers. In particular, the American Corporation GM and Ford suffer because of duties because of its dependency on import of cars in Mexico and Canada. According to Moody’s, the share of foreign production accounted for 30% of total car sales GM, for Ford, the share of foreign assemblies in sales is 20%.

Canada will apply retaliatory duties to U.S. $12.6 billion

The canadian government has announced retaliatory import duties against American goods since 1 July.

In a statement the foreign Ministry of Canada States that the government introduces a “reasonable and proportionate action” in response to U.S. duties on canadian steel and aluminum in the amount of 16.6 billion canadian dollars ($12,63 billion) for steel, aluminum and other products from the United States beginning July 1, 2018.

In the published list shows the products from the USA, in respect of which introduced import duties at the rate of 25% and 10%. In addition to various kinds of industrial products of steel and aluminium in response, Canada also imposes import duties against food products produced in the United States, in particular whiskies, yoghurts, coffee, chocolate, and some other items.

As stated, the canadian authorities also provide a subsidy in the amount of 2 billion canadian dollars ($1.52 billion) “to protect the interests of canadian workers and companies in the steel segment, steel and aluminium, as well as industry.”

The US is preparing a bill that ignores the rules of the WTO

The administration of U.S. President Donald trump has developed a bill that allows the White house to unilaterally raise tariffs without approval from Congress, according to Axios.

The bill will mean that the largest economy in the world refuse the rules of the world trade organization (WTO).

The document, which is called “the Law of the United States of equitable and mutually beneficial tariffs”, ignored the fundamental principles of the WTO, said Axios, who was the bill.

These principles include a ban on States establishing different tariff rates for countries not participating in free trade agreements and limits tariffs agreed by WTO countries.

According to the source Axios familiar with the situation, if the bill is passed, “it will be tantamount to withdrawal from the WTO and our obligations there without actual notice on our way out.” However, the source noted that Congress “never” accept such a measure.

Press Secretary lyndsey Walters said Axios, the bill is still far from complete.

As reported “Vesti.Economy” last week, the Axios sources said that trump has repeatedly said high-ranking officials of his administration that he wants to withdraw the U.S. from the world trade organization.

According to the interlocutor of the edition, who participated in discussions with trump, the President said his advisers that he did not know why the US is a member of the WTO, and, in his opinion, the organization was created by other countries to interfere with United States.

Trump also criticized the WTO during his election campaign.

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