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Negotiators attending a World Trade Organization meeting in the United Arab Emirates ended the summit after failing to reach agreement on several major initiatives
DUBAI, United Arab Emirates — Negotiators at a World Trade Organization meeting in the United Arab Emirates failed to agree on several major initiatives, ending the summit early Saturday in the latest sign of turmoil within the global body. .
The WTO postponed its closing ceremony in Abu Dhabi by more than a day as 166 countries struggled to reach consensus on fisheries, agriculture and other issues.
The only noteworthy agreement is an extension of the moratorium on taxes on digital media such as movies and video games. On this issue, the WTO decided to extend the suspension until the next biennial meeting.
WTO Director-General Ngozi Okonjo-Iweala noted that the summit was held “in an international context of greater uncertainty than at any time in my memory.”
As with Monday’s summit opening, she made no direct reference to Israel’s war against Hamas in the Gaza Strip. However, she has previously noted ongoing shipping disruptions in the Red Sea caused by conflict with Yemen’s Houthi rebels.
“The beauty of the WTO is that every member has an equal voice, but that comes at a cost,” Okonjo-Iweala said. “Nonetheless, we are a unique organization and I think the cost is worth it. Let’s move forward and let our voices be heard.”
The election of nearly half the world’s population could bring new challenges to the WTO. For the WTO, nothing is more important than the US presidential election on November 5.
Running again is former President Trump, who has threatened to withdraw the United States from the World Trade Organization and repeatedly imposed tariffs — taxes on imported goods — on so-called friends and foes alike. A Trump victory could disrupt global trade again.
But even if President Biden is re-elected, the United States has deep reservations about the WTO. The United States under the past three administrations has blocked appointments to appeals courts and the courts no longer operate. Washington says WTO judges often exceed their authority in ruling on cases.
The United States also criticized China for still describing itself as a developing country, as it did when it joined the WTO in 2001. Washington, Europe and other countries say Beijing improperly blocks access to emerging industries and steals or forces foreign companies to hand over technology. The United States also says China is flooding world markets with cheap steel, aluminum and other products.
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