June 26, 2022
EU trade leader urges US to work for reform without destroying WTO

EU trade leader urges US to work for reform without destroying WTO

World Trade Organization (WTO) (Photo: Getty Images)

You United States The EU trade chief said on Monday that they should work with the EU to reform the World Trade Organization and not let it be ruined by negligence.

“We need reform, not destruction,” said Waltz Domprovsky, vice president of the European Commission, in talks with his U.S. colleagues at the John Hopkins University in Washington for a week.

Dombrovsky said condemning the WTO for “harmless boycott” would mean losing one of the most important tools for promoting open and fair trade. It was a choice, he said, between order and the law of the jungle.

Washington is pursuing former President Donald Trump’s policy of blocking appointments to the WTO appeals body, meaning the panel cannot effectively intervene to resolve global trade disputes.

Dombrovsky said the EU shares the urgent need to address the WTO ‘s activities and massive industrial subsidies, forced technology transfers, subsidies and unfair practices such as strong state involvement in economies.

The WTO cannot face these challenges in its current form, the commissioner stressed, adding that the reform process should begin at the WTO ministerial conference to be held between November 30 and December 30.

Domprovsky said the EU was ready to work with the United States to reach agreements on fisheries subsidies, health, agriculture and sustainability, and to initiate a serious debate on institutional reform.

“If we do not act together, we will leave the open space for non-market economies to do what they want in the global MMA,” Dombrovsky said. “With strong engagement and collective leadership, I believe we can really revitalize the World Trade Organization.”