[ad_1]
DUBAI, United Arab Emirates (AP) — Negotiators attending a meeting WTO A meeting in the United Arab Emirates ended early Saturday after failing to agree on several major initiatives, 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 the extension of the tax moratorium 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 had previously pointed out Shipping disruptions continue due to Houthi rebels in Yemen Caught in a red sea due to conflict.
“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.
Former President Trump is running again. Who threatens to withdraw the United States from the WTO? 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 others say Beijing improperly blocks access new industries and steal or force foreign companies to hand over technology. The United States also says China is flooding world markets with cheap steel, aluminum and other products.
[ad_2]
Source link