Future WTO Accords Remain Uncertain In Wake of U.S.-India Standoff on TFA

Bloomberg BNA

inusThe World Trade Organization grabbed headlines in late 2014 by approving the first multilateral deal in its nearly 20-year history, but many observers disagree about whether that milestone portends more extensive deals to ease cross-border trade internationally or increased conflict among members and further reliance on alternative avenues for negotiation.

‘‘The worst has been averted,’’ Gary Clyde Hufbauer, a senior fellow at the Peterson Institute for International Economics, told Bloomberg BNA after WTO members in late November stamped their approval on a deal drafted in Bali the previous December. Hufbauer’s statement reflected the intense debate concerning the legitimacy of the WTO as a trade negotiating forum when a U.S.-India dispute left the Bali deal on the table for four months beyond the July 2014 deadline for passage.

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Written by Christina L. Lyons, copyright 2015 The Bureau of National Affairs, Inc.