Opinion | The WTO: Is it all over or can something be done?8 min read 29 Oct 2018, 11:38 PM IST
If the multilateral trading system is really as much at risk as many fear, it is an important enough issue for the heads of government of the G20 to get directly involved
Is the World Trade Organization (WTO) in trouble? It certainly seems so, since US president Donald Trump has described the institution as a “catastrophe" and a “disaster". On 30 August, he went further and declared that the WTO is “the single worst trade deal ever made" and “if they don’t shape up I would withdraw from the WTO". Previous US administrations have had their problems with the WTO, especially with its negotiating process which is based on consensus, and can prevent trade negotiations from moving forward if even one country objects. But no president has ever suggested that the US might want to leave the WTO. The threat naturally has major trading partners worried.
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