The US Trade Representative has signaled a change in position on WTO Dispute Resolution.
Katherine Tai, the US Trade Representative, announced a shift in Washington’s position on the World Trade Organization’s dispute settlement mechanism on Thursday, saying the US intended to warm relations with the global trade agency.
In a speech before The Geneva Institute’s Geneva Trade Platform, Tai said, “We all acknowledge the importance of the WTO, and we all want it to prosper.”
The United States brought the WTO’s dispute settlement system to a standstill in December 2019 by preventing the nomination of new judges to the important Appellate Body under then-President Donald Trump.
Tai, who was nominated by Trump’s successor, Joe Biden, stated that the US wants to strengthen ties and improve the way the WTO resolves trade disputes.
“We believe that by creating a more flexible WTO, changing the way we tackle challenges collaboratively, improving transparency and inclusion, and restoring the deliberative function of the organization, we may succeed in overhauling the negotiating pillar,” she said.
“Let us not make assumptions about what a reformed system would look like. The most essential thing is to participate in this discussion and bring the entire membership together since there is a sense of malaise here “Tai later revealed this to journalists.
The body’s seven-member Appellate Body can uphold, alter, or reverse a WTO dispute panel’s original conclusions.
Although Trump escalated hostilities, US criticism of the WTO’s protocols precedes him.
While the United States has won most of its cases at the WTO, Trump’s administration has accused the organization of overstepping its bounds with decisions that are seen as infringing on national sovereignty.
“Dispute resolution has become synonymous with litigation,” Tai added, “litigation that is long, expensive, and controversial.”
Ngozi Okonjo-Iweala, the head of the World Trade Organization, intends to fix the issue before the next ministerial conference in Geneva, which begins on November 30.
She praised Tai’s remarks in a speech in Washington, saying they “clearly underscore the need for WTO reform.”
She admitted that “a process for revamping and reviving the dispute settlement function” is needed in the global economic system.
Capping subsidies to curb overfishing and surrendering intellectual property rights for Covid-19 vaccinations are among Okonjo-top Iweala’s goals.
Tai appeared to be confident about reaching a deal on a few unresolved points.
“The Globe Trade Organization (WTO) can demonstrate that it is capable of efficiently tackling a global crisis like Covid-19 and assisting the world in rebuilding. Several trade and health-care ideas should be able to reach agreement in the next month and a half “Tai said.
She went on to say that Washington is in favor of removing vaccination patents, which many people oppose. The Washington Newsday Brief News is a daily newspaper published in Washington, D.C.