Current Affairs – October, 2019

Latest Current Affairs October, 2019 with Current Affairs, news summary on current events of National and International importance of October, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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India Mobile Congress

India Mobile Congress is the largest mobile technology event in South Asia. It is organized by Department of Telecommunications along with Cellular Operation Association of India (COAI). This year the event is being conducted between October 14, 2019 and October 16, 2019.

The Congress brings together Government entities, industries and other ecosystem players. It acts as a common platform to discuss and display the latest technology in the world. Apart from being the largest digital technology event, it is also the largest networking event in India.

Highlights of the event

During the event exhibition and conferences are organized. It also presents most recognized awards in the technology industry, especially in digital technology.

Objectives of the event

  • The event is organized to promote start-ups, innovators and enterprises
  • It also promotes local manufacturing
  • It drives in investments
  • The event acts as a platform to spread knowledge about the ongoing research and development in the field
  • It enhances international regional cooperation in the South and South east region.

WTO gives US final authorisation to impose tariffs on EU products

The World Trade Organisation (WTO) has given United States the final authorisation to impose tariffs on European Union (EU) products in retaliation for illegal subsidies given to Airbus. Earlier in October 2019, a WTO arbitrator gave US the green light to slap tariffs on US $7.5 billion worth of European Union imports.

The move comes as a landmark moment in the 15-year legal battle between Airbus and American plane-maker Boeing.

Key Highlights

WTO Ruling: WTO has found that both Airbus and its United States’ rival Boeing received billions of dollars of illegal subsidies in a pair of cases that have now run for nearly 15 years. An adjudication or arbitrators award in the Boeing case is due in 2020.

The arbitrator’s award, which is the largest in WTO’s history was rubber-stamped by the Dispute Settle Body (DSB) of WTO which is made up of representatives from its 164 members. At a special meeting, the WTO’s DSB cleared US to take countermeasures against EU and Airbus-producing countries Britain, Germany, France and Spain.

Proposed Tariffs: Even though United States have stated that it will impose a 10% tariffs on Airbus planes and 25% duties on a range of products, such as French wine, Scottish whiskies and cheese from across the continent which could be in place by 18 October 2019, but the EU officials are trying to reach a negotiated settlement with US so as to avoid escalating trade tensions that risk battering economies across the globe.

Parallel Dispute Over Subsidies: However, in case the negotiations fail to produce a deal, then EU will get the chance to impose its own WTO-approved tariffs on billions of dollars of U.S. exports, after convincing WTO judges that Boeing had benefited from illegal US government subsidies for domination of the world aircraft market.

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