World Trade Organization (WTO) News

G20 Skirts Taboos in Reaching Agreement on WTO Reforms

Many delegates from the world’s 20 largest economies arrived at a summit in Argentina this week determined to clinch an agreement to reform the global trade system, pushed to a breaking point by tensions between the United States and China. …

U.S. Balks at China Cybersecurity Law, Fears It Will Hurt Global Trade

The United States has asked China not to implement its new cyber security law and is concerned it could damage global trade in services, a U.S. document published by the World Trade Organization showed on Tuesday. China ushered in a …

UK-EU Post-Brexit Trade Deal ‘Desirable but Not Essential’: Report

A UK trade deal with the European Union after Brexit is desirable but not essential, the Institute of Economic Affairs said, in support of Prime Minister Theresa May’s repeated assertion that no deal is better than a bad deal. Britain …

UK at Risk of Exiting EU on ‘WTO Terms,’ Thereby Opening Legal Minefield

Failure to strike a trade deal with the European Union by a two-year deadline would force Britain to adopt World Trade Organization arrangements, bringing with it a host of new negotiations and complications. In a nutshell, Britain would have to …

Update: UK Begins 2 Years of Complex Talks to Exit European Union

Prime Minister Theresa May set the U.K. on course for leaving the European Union in two years’ time, a divorce that will redefine the country’s relationship with its largest trading partner and end decades of deepening political integration on the …

Brexit Without Trade Deal Could Have Dire Economic Consequences: CBI

If the UK leaves the European Union without being able to complete a Brexit trade deal, it could be forced into World Trade Organization tariffs – an option that is under serious consideration by the UK government. However, Paul Drechsler, …

China Likely to Adopt Cyber Rules for Insurers Despite Foreign Business Concerns

Controversial cyber security regulations for China’s insurance industry, now before the World Trade Organization (WTO), could soon take effect despite efforts by foreign business groups to persuade Beijing to change tack. Those groups say the draft measures are vague and …

Bali Talks to Decide WTO’s Fate

Crisis is the natural state of world trade negotiations. But this week will be different. Ministers meeting in the Indonesian resort of Bali from Tuesday until Friday will decide the fate of the World Trade Organization, with two possible outcomes: …

Trade Ministers Running Out of Time to Save Global WTO Talks

WTO member countries have until the end of July to revive moribund global free trade talks in time for a meeting scheduled for December in Bali, top trade officials and ministers said on Thursday, and warned of long-term damage if …

WTO Cuts 2013 Trade Forecast; Sees Protectionist Threat

The World Trade Organization slashed its forecast for trade growth in 2013 on Wednesday, saying it feared protectionism was on the increase. It cut its forecast for global trade growth in 2013 to 3.3 percent from 4.5 percent and said …