Canada Close to a Deal with EU on Possible Fix to WTO Deadlock
July 19, 2019
Canada and the European Union are close to agreeing on a possible temporary solution to a U.S. block on appeals in disputes at the World Trade Organization (WTO).
The U.S. is currently barring appointments to the WTO’s Appellate Body, saying its judges have overstepped their mandate and ignored their instructions. Unless the block is lifted, the world’s top trade court will be unable to hear appeals in international trade disputes by December.
A joint statement said the fix involves setting up an interim appeal arbitration arrangement based on existing WTO rules.
Cecilia Malmstrom, the EU’s trade chief, said that the deal on a possible fix “sends a strong message of our shared objective to ensure the full effectiveness of the WTO and the stability of world trade.”
Read more in an article from the Financial Post.
Source: CIFFA; Financial Post
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