Monday, January 27, 2020

New trade disputes-settling agreement

Canada, the European Union, China and 14 other World Trade Organization members agreed on Friday to create a temporary mechanism to settle trade disputes.
The agreement was made because the United States has refused to appoint judges for the World Trade Organization’s disputes-settling system, rendering it useless.
“Finding a long-term solution for appointments to the WTO appellate body remains a key priority for Canada,” the Canadian government said in a statement Friday. 
“The multi-party interim arrangement will remain in place only until the WTO Appellate Body is able to resume its work.”
Two of the three WTO judges terms ended in December, leaving it incapable of making rulings.