Tag Archive : WTO

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GENEVA (AP) — International arbitrators said Tuesday that the European Union can impose tariffs and other penalties on up to $4 billion worth of U.S. goods and services over illegal American support for plane maker Boeing. The move further sours transatlantic ties at a time when the coronavirus has doused trade and savaged economies.

The ruling by the World Trade Organization arbitrators, which could inflame Trump administration criticism of the Geneva-based body, amounts to one of the largest penalties handed down by the WTO.

It comes a year after another ruling authorized the United States to slap penalties on EU goods worth up to $7.5 billion – including Gouda cheese, single-malt whiskey and French wine – over the bloc’s support for Boeing rival Airbus.

Now the EU can have its own turn at trade punishment, and has already been considering which American products it could target. A preliminary list that

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(Bloomberg) —

World Trade Organization members selected two final candidates — Nigeria’s Ngozi Okonjo-Iweala and South Korea’s Yoo Myung-hee — to advance to the final round in the race to lead the Geneva-based trade body, according to people familiar with the matter.

By advancing two women to the final round of the selection process, the WTO will likely have the first female director general in its 25-year history.



Ngozi Okonjo-Iweala wearing a hat: Key Speakers At The Clinton Global Initiative (CGI)


© Bloomberg
Key Speakers At The Clinton Global Initiative (CGI)

Ngozi Okonjo-Iweala

Photographer: Michael Nagle/Bloomberg

Okonjo-Iweala served two stints as Nigeria’s finance minister and one term as foreign affairs minister. She has experience working at international governance bodies as a former managing director of the World Bank and as a chairman at the Global Alliance for Vaccines and Immunization.

Yoo is South Korea’s trade minister. During her 25-year career in government, she has helped expand her country’s trade network through bilateral accords

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VIENNA (Reuters) – India and South Africa want the World Trade Organization (WTO) to waive intellectual property rules to make it easier for developing countries to produce or import COVID-19 drugs, a letter https://docs.wto.org/dol2fe/Pages/SS/directdoc.aspx?filename=q:/IP/C/W669.pdf&Open=True to the WTO shows.

In their letter dated Oct. 2 the two countries called on the global trade body to waive parts of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), which governs patents, trademarks, copyright and other intellectual property rules globally.

“As new diagnostics, therapeutics and vaccines for COVID-19 are developed, there are significant concerns (over) how these will be made available promptly, in sufficient quantities and at (an) affordable price to meet global demand,” the letter posted on the Geneva-based WTO’s website says.

The two countries said that developing nations are disproportionately affected by the pandemic and that intellectual property rights, including patents, could be a barrier to the provision of affordable

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