Photo: Sava Radovanović/Tanjug
Donald Trump practically declared a trade war on the European Union. Croatia found itself in the dark
Croatia entry into the OECD (Organization for Economic Cooperation and Development) was temporarily halted due to the conflict between the USA and the European Union carina.
The vote on Croatia has been postponed, the government confirmed to the Croatian Index, from which they assure that Croatia's entry into the OECD will still go according to plan.
What is OECD?
The OECD is an association of developed countries that gathers 38 members, among which are leading world economies such as the USA, Germany, Japan and France.
It was created after the Second World War, in order to work on the implementation and administration of the Marshall Plan, which was the official American plan for the reconstruction of Europe, which was economically devastated by the war. Later its membership was extended to non-European countries.
External priority
Joining this organization was one of Croatia's external priorities in the past years, because membership in that organization brings reputational and economic benefits - from strengthening investment attractiveness to participating in the creation of global economic rules.
However, the procedure for admitting new members requires the consensus of all existing member states.
This is exactly where the problem has arisen - due to the trade war that the Trump administration has restarted with the European Union, the US has decided to block decisions in international organizations in which the EU has a strong influence, claims the Croatian Index. Thus, Croatia became a collateral victim of American-European quarrels.
Behind everything is a new wave of customs conflicts between Washington and Brussels because Trump accuses the EU of burdening American products with excessive tariffs, while on the other hand the EU announces countermeasures against American goods. Given that decisions in the OECD are made unanimously, the Trump administration is using the possibility of a blockade as an instrument of pressure.
How was the process?
Croatia was formally invited to start negotiations for membership in the OECD in 2022, and so far it has harmonized most of the legislation and standards with the organization's rules. Entry was initially expected in 2025, but now the question is whether current global political conflicts will slow down that plan.
Along with Croatia, membership in the OECD is currently being negotiated by two other EU members - Bulgaria and Romania, as well as the South American countries Brazil, Argentina and Peru.
Where it got stuck
The large foreign trade deficit that the USA has in exchange with the Old Continent, and which Trump has already spoken about several times, is the biggest problem for the new American president.
The European Union primarily imports oil, gas and medical products from the USA. In agriculture, it is oilseeds and the largest part of soybeans that reaches Europe.
In particular, France advocates a "harsh" reaction to the already announced steel and aluminum tariffs, and in Trump's last term, the EU responded to his tariffs on steel and aluminum products with special tariffs on American whiskey, motorcycles and jeans.
Source: Time/Index
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