Many export restrictions on food, feed and fertilizers remain in place despite "substantially more trade-facilitating than trade-restrictive measures" that were introduced on goods from October to May, the World Trade Organization said in its Trade Monitoring Report on G-20 trade measures. Sixty-three export restrictions remained on food, feed and fertilizers, down from the 1,010 that had been imposed since the start of the war in Ukraine. The report, issued July 4, said the war in Ukraine, post-COVID-19 effects, extreme weather, and high food and energy prices are causing continued uncertainty in global trade.
Japan formally accepted the World Trade Organization fisheries subsidies deal, which imposes restrictions on subsidies for illegal, unreported and unregulated fishing. Japan's pushes the number of acceptances to more than a third of the two-thirds majority needed for ratification, the WTO said July 4.
A World Trade Organization dispute panel suspended its consideration of Russia's complaint against U.S. antidumping duties on steel and aluminum products at Russia's request, the WTO announced. The panel said that after reviewing Russia's comments and U.S. opposition, it decided to temporarily stop its work on the dispute. Per WTO rules, the panel cannot halt the work for more than 12 months.
The World Trade Organization is responsible for too many agreements, leading to fracturing coalitions and insufficient oversight, University of Arizona law professor Bashar Malkawi said in an International Economic Law and Policy Blog guest post. For the trade body to "survive as a meaningful entity," member nations should be willing to largely ditch the "consensus style of negotiations and agreements" and embrace a system operating largely under majority or super-majority votes, Malkawi suggested.
China formally accepted the World Trade Organization's Agreement on Fisheries Subsidies June 27. The deal, struck at the 12th Ministerial Conference and requiring a two-thirds majority for ratification, imposes rules to crack down on subsidies for illegal, unreported and unregulated fishing.
Japan, Australia and Singapore, co-conveners of the e-commerce talks at the World Trade Organization, recently urged delegates to consider how the initiative can achieve results by the end of the year, the WTO said June 22. Facilitators of small group discussions noted progress on finding "landing zones on text proposals in areas such as cryptography, source code, privacy, 'single windows,' telecommunications, and data flows and data localisation," the WTO said. Other sessions held at the meeting included talks on general and security exceptions, digital inclusion and development and implementation.
The U.S. and India announced a deal June 22 that will end India’s retaliatory tariffs on some U.S. goods while leaving in place the Section 232 steel and aluminum tariffs that prompted them, and also end six World Trade Organization disputes brought by both the U.S. and India.
The World Trade Organization's Committee on Trade Facilitation, meeting June 15-16, discussed recent steps taken to implement the Trade Facilitation Agreement. Members developed solutions to challenges related to "customs formalities, transit guarantees, container seals and tracking, transit corridors and improving support to WTO members in TFA implementation relevant to transit activities" for landlocked developing nations, the WTO said. Cambodia, Nepal and Zambia gave presentations on trade facilitation challenges, while Cambodia, El Salvador and Tunisia shared information on recent experiences updating their TFA implementation status.
World Trade Organization members held an informal talk June 16 on efforts to revise the global trade body's "deliberative functions." Members discussed the WTO's General Council, Trade Negotiations Committee, the "conduct of Ministerial Conferences" and generating greater member participation in WTO bodies. Members also discussed "other trade-related matters," "effective oversight and decision-making" in the Ministerial Conference and the General Council, and ways to ensure the Trade Negotiations Committee "effectively plays its supervising role for the overall conduct of the negotiations." Botswana's Athaliah Lesiba Molokomme, who chairs the General Council, said she is considering holding consultations before the next General Council meeting set for July 24-25 to finalize an "emerging roadmap for MC13 on the deliberative function." MC13, the 13th Ministerial Conference, is set for February 2024 in Abu Dhabi, United Arab Emirates.
A dispute panel at the World Trade Organization ruled this week that China's antidumping duties on stainless steel products from Japan violated global trade commitments. The ruling held a mix of findings for and against Japan's claims, leading each side to claim some form of victory.