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The Latest Breaking News from WTO

US Covid recovery in ‘jeopardy’ unless poorer countries helped, group warns

Congressional group writes letter urging Biden to extend WTO agreement aimed at easing generic vaccine exports

The Guardian - US

WTO warns 'darkened' trade outlook could deteriorate further

The World Trade Organization forecast a slowdown of global trade growth next year as sharply higher energy and food prices and rising interest rates curb import demand, and warned of a possible contraction if the war in Ukraine worsens.

Reuters

WTO predicts trade growth to slow next year amid crises

The World Trade Organization is predicting global trade volumes to grow a lackluster 1% next year as higher energy prices, rising interest rates and uncertainties about Chinese manufacturing output amid the lingering COVID-19 pandemic weigh on markets

The Independent UK

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Costa Rica to suspend tariff benefits for Panamanian products amid trade dispute

Costa Rica will suspend tariff benefits for Panamanian products, the country's foreign trade ministry said on Thursday, marking another step in a trade dispute that started in 2020 and is the subject of a World Trade Organization (WTO) lawsuit.

Reuters

Africa risks losing out on trade as rich countries cement relationships with trusted partners

Over the past few years, the world’s supply chains have been strained and disrupted by the COVID pandemic, Russia’s invasion of Ukraine, and rising geopolitical tensions. These started with the US-China trade war and then intensified following the war in Ukraine.

The Conversation

WTO chief: World economy edging into recession

The head of the World Trade Organization (WTO) added her voice to a growing chorus of observers who see the global economy headed into a recession.

Bangkok Post

WTO can reach deals on 'difficult' topics by early 2024 - WTO chief

The head of the World Trade Organization said on Tuesday the 164-member body can negotiate more ambitious deals, such as on agriculture, climate change and internal reform by its next major meeting, after concluding a series of trade deals in June.

Reuters

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India discusses cooperation among IBSA countries in various multilateral fora, including UN, WTO and G20

The IBSA has emerged as a key tripartite grouping for the promotion of cooperation in a range of areas.

The Hindu

India defends its decision to ban rice, wheat exports at WTO

At a meeting in Geneva, the U.S. and the European Union raised questions over India’s decision to ban export of wheat and rice, stating it could have adverse implications on global markets

The Hindu

WTO head Ngozi Okonjo-Iweala: how trade can help beat inequality

In a recent study South Africa was identified as ranking first of 164 countries in the World Bank’s global poverty database. Underlying this inequality is its very high rates of unemployment. Professor Dori Posel spoke to World Trade Organisation (WTO) Director General Dr Ngozi Okonjo-Iweala about why trade is important…

The Conversation

EV tax credit may be out of reach for most consumers

WASHINGTON — While the climate, health care and tax law includes an overhaul for the electric-vehicle tax credit, allies and industry representatives have expressed concern that the statute may ultimately benefit too few consumers.

Tribune News Service

EV tax credit may be out of reach for most consumers - Roll Call

The overhaul by Congress for the electric-vehicle tax credit may ultimately benefit too few consumers, allies and others say.

Roll Call

New electric vehicle tax credits raise talk of trade war

A new tax credit for U.S. buyers of qualifying electric vehicles made in North America in the Inflation Reduction Act has prompted unfair trade practice allegations overseas

The Independent UK

EU says US electric vehicle tax credit could break WTO rules

The European Union says a new U.S. tax credit plan aimed at encouraging Americans to buy electric vehicles could discriminate against European producers and break world trade rules

The Independent UK

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Reuters

S.Africa negotiates deal with EU to clear citrus blockage at ports

South Africa has negotiated a settlement with the European Union to clear hundreds of shipping containers of citrus fruit stuck in EU ports, the South African government said on Thursday.

The Hindu

India’s ‘wheat waiver’ WTO demand is risk-fraught

Such a stand will dilute its core agenda of pushing for a permanent solution to public stockholding for food security

Reuters

South Africa lodges WTO complaint against EU over citrus fruit rules

South Africa has launched a WTO dispute complaint against the European Union concerning measures imposed by the bloc on South African citrus fruit imports, a WTO spokesperson said.

Bangkok Post

World in crisis needs trade, aid

We are in the toughest period the world economy has faced since the creation of the multilateral system more than three-quarters of a century ago. A quadruple shock of Covid, climate change, conflict and cost-of-living has undone years of hard-fought development gains. As financial conditions tighten, even countries that had…

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The Hindu

Letters to the Editor - A rejoinder

Rejoinder from the Ministry of Commerce and Industry, to the article “MC12 over, its ‘gains’ f

The Hindu

MC12 over, it’s ‘gains’ for the developed world

India, which found itself on the losing side at the 12th Ministerial Conference of the WTO, needs to course correct

The Independent UK

Trump said ‘lot of things that proved to be true’, says Liz Truss

Tory leadership hopeful wants G7 turned into ‘economic Nato’ to tackle influence of China

The Hindu

Parliament proceedings | India called upon Russian, Ukrainian sides to return to path of diplomacy, dialogue: Govt.

Since the beginning of the conflict in Ukraine, India has consistently called for immediate cessation of hostilities and an end to the violence, Minister of State for External Affairs V. Muraleedharan said

The Hindu

Centre has no plan to cut fisheries subsidies, says Minister

Sector not getting any substantial subsidy, says forum

The Conversation

How trade regulations may be opening up a new era of sustainable growth in the Global South

You may or may not have noticed from the headlines of the past years: in our interconnected world the food systems are increasingly under pressure.

The Conversation

We have a deal. Can we now talk about some not-so-harmful fisheries subsidies?

The World Trade Organization reached an agreement on fisheries subsidies on June 17, prohibiting member countries from funding illegal fishing and fishing of overexploited stocks.

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