US Ratifies WTO Trade Facilitation Agreement, Pledges Help to Other Countries
The U.S. ratified the World Trade Organization Trade Facilitation Agreement on Jan. 23, the Office of the U.S. Trade Representative said on Jan. 23 (here). Froman gave WTO Director General Roberto Azevêdo the U.S. “letter of acceptance” for the TFA…
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while in Davos, Switzerland for the World Economic Forum, USTR said. The U.S. commitment marks the final step in agreeing to enter the agreement into force. The U.S. is only the third country, out of 161 WTO members, to ratify the TFA, said USTR. Hong Kong and Singapore have also ratified the deal, and the U.S. is working with other countries to help ensure implementation, said USTR. The WTO will move ahead with implementation of the deal after two-thirds of members ratify it (see 1411280027). The National Foreign Trade Council praised the U.S. move in a statement (here). "We hope that other countries recognize the importance of this agreement as a way to modernize trade rules, and we call on them to follow suit and ratify TFA without delay,” said NFTC Vice President for Global Trade Issues Jake Colvin.