(BRUSSELS) EU Growth Slowing as finance ministers and central bank governors of the Group of 20 (G20) major economies are to meet in Washington on April 11-12 to discuss the main challenges to the world economy #AceFinanceDesk reports

#AceFinanceReport – Apr.09: The European Union will tell a meeting of finance leaders from the world’s 20 biggest economies next week that they must all tackle the root causes of global trade tensions because they are putting global growth at risk, an EU document showed: “Current trade tensions put the ongoing expansion at risk and are therefore a source of concern,” a joint position paper agreed by EU finance ministers on Saturday said.

The United States and China are engaged in intense negotiations to end a months-long trade war that has rattled global markets: Hopes of a resolution soared after both sides expressed optimism following talks in Beijing last week.

The International Monetary Fund said in its April World Economic Outlook this week that an escalation of the U.S.-China trade war could reduce U.S. growth by up to 0.6 percent and China’s by up to 1.5 percent: “The international community has to tackle the root causes of the ongoing trade tensions by ensuring a level playing field for open and free trade in goods and services, investment and intellectual property rights,” the joint EU statement said………….The United States is also in talks with the European Union on a trade deal after imposing tariffs on European steel and aluminum last year and threatening to impose tariffs on European cars.

“We reaffirm our commitment to keep the global economy open as well as rules-based, to support an inclusive multilateral trading system with the World Trade Organization (WTO) at its center and to keep international economic cooperation on track,” the EU said: Washington has reservations about the WTO which it believes is unable to tackle modern trade challenges and issues such as intellectual property theft………………The EU believes the WTO is the best way to deal with trade disputes but that it should be reformed to address U.S. and its own concerns.

#AceFinanceDesk report ………..Reuters.Com/ Reporting by Jan Strupczewski; Editing by Mark Potter

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(TOKYO, Japan.) Toyota Motor Corp: Will Share 23,740 Hybrid Vehicle Patents For Free and offer to supply competitors with components including motors, power converters and batteries used in its lower-emissions vehicles… as global industry shifts towards fully electric cars and even more sales #AceFinanceDesk reports

#AceFinanceReport – Apr.09: The pledge by one of the world’s biggest automakers to share its closely guarded patents, the second time it has opened up a technology, is aimed at driving industry uptake of hybrids and fending off the challenge of all-battery electric vehicles (EVs): Toyota said it would grant licenses on nearly 24,000 patents on technologies used in its Prius, the world’s first mass-produced “green” car, and offer to supply competitors with components including motors, power converters and batteries used in its lower-emissions vehicles… Reuters reported.
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Toyota’s move to unlock its patents underlines its belief that hybrids are an effective alternative to all-battery EVs, given a fuel efficiency roughly double that of gasoline cars, lower cost and that they do not need charging infrastructure: Toyota vehicles account for more than 80 percent of the global hybrid vehicle market. “Toyota has realised that they made a mistake by protecting their hybrid technology for years………..This prevented diffusion” said Janet Lewis, head of Asia transportation research at Macquarie Securities.

“Toyota on its own can’t get key technology accepted, but if other companies use it, that offers the best chance of expansion,” she added: The article notes statistics from LMC Automotive that hybrid vehicles “account for around 3 percent of all vehicles sold globally, eclipsing the roughly 1.5 percent share of all-battery EVs.” Shigeki Terashi, Executive Vice President of Toyota, said, “we believe that now is the time for cooperation.”

#AceFinanceDesk report …………….Published: April.09: 2019:

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