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Australia and the United Arab Emirates announced that negotiations on a new trade agreement, the Australia-United Arab Emirates Comprehensive Economic Partnership Agreement, have concluded.

Through its phased-in tariff reductions, the agreement will raise challenges for U.S. products including wine and spirits, cotton, pulses and beans, forest products, and tree nuts.

On December 14, 2021, the World Trade Organization (WTO) released its findings from the dispute panel initiated in August 2019 against India’s trade distorting sugar subsidies. The WTO report found that India’s subsidies violated its obligations under the multilateral agreement.

The Gulf Cooperation Council (GCC) is a regional political and economic treaty organization comprised of the Arabian Gulf nations of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.