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DUBAI, United Arab Emirates (AP) — Negotiators taking part in negotiations. world trade organization A meeting in the United Arab Emirates ended its summit early Saturday after failing to reach agreement on several key initiatives, the latest sign of turmoil within the international body.
The WTO has delayed its closing ceremony in Abu Dhabi by more than a day as its 166 members struggle to reach consensus on fisheries, agriculture and other issues.
The only notable agreement was to extend the suspension of the following taxes: Digital media such as movies and video games. On this issue, the WTO has decided to extend the moratorium until its next biennial meeting.
WTO Director-General Ngozi Okonjo-Iweala said the summit was held in an “international context characterized by greater uncertainty than I can remember.”
As at the beginning of Monday’s summit, she did not directly mention Israel’s war against Hamas in the Gaza Strip. However, she has previously pointed out that: Transportation disruptions continue due to Yemen’s Houthi rebels Regarding the conflict in the Red Sea.
“The advantage of the WTO is that each member country has an equal voice, but that comes at a cost,” Okonjo-Iweala said. “However, we are a unique organization and I think it’s worth the cost. Let’s continue to make our voices heard.”
Elections involving almost half of the world’s population could pose new challenges for the WTO. Perhaps nothing is more important to the WTO than the November 5 US presidential election.
Former President Donald Trump is running again Who threatened to withdraw the US from the WTO? And he repeatedly imposed similar tariffs, or taxes on imported goods, on his supposed enemies and friends. Trump’s victory could once again disrupt global trade.
However, even if President Joe Biden is re-elected, the United States has deep concerns about the WTO. The United States under the past three administrations has blocked appointments to the Court of Appeals, and the Court of Appeals is no longer functional. Washington said WTO judges too often overstepped their authority in deciding cases.
The United States also criticizes China for still calling itself a developing country, as it did when it joined the WTO in 2001. Washington, Europe and others say Beijing is unfairly blocking access. Steal technology from emerging industries or pressure foreign companies to hand over technology. The United States also says China is flooding global markets with cheap steel, aluminum and other products.
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