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WTO delegates couldn’t broker a consensus agreement this week after the US demanded American Alan Wolff become interim director-general instead of Germany's Karl Brauner.
WTO’s next leader will have to focus on rebuilding trust and credibility, rebooting its negotiating agenda and restoring its paralyzed dispute-settlement system.
The government has allowed import of 5 lakh MT of maize and 10,000 MT of milk under reduced duties, cites commitment to WTO.
From weakening WTO and NATO to pulling out of several UN organisations, Donald Trump has now targeted at least 11 global cooperation bodies or pacts.
The 62-year-old Brazilian has served as the WTO’s director-general since September 2013 and his second four-year term began in September 2017.
While trade will suffer, a rebound will be possibly only if businesses and consumers view the pandemic as a temporary, one-time shock, the WTO said.
EU urges WTO to set up dispute panel on the issue, but while India has blocked the first move, Brussels plans to approach the trade body again.
Politicians, investors & executives in Davos will debate whether we are witnessing peaks in key drivers of the world economy.
The world needs multilateral institutions that acknowledge protectionism rather than free trade as the deeper & more enduring reality of global economic history.
Trump administration has appealed against WTO ruling that found US didn’t adequately amend series of illegal tariffs on Indian carbon steel products.