Negotiators participating in a World Trade Organization (WTO) meeting in the United Arab Emirates wrapped up their summit ahead of schedule on Saturday, unable to reach consensus on significant initiatives, underscoring ongoing challenges within the global organization.
The 166-nation bloc faced hurdles in reaching agreements on key issues such as fishing, agriculture, and others, leading to the delay of the closing ceremony in Abu Dhabi by more than a day.
Amidst the impasse, the only notable agreement was an extension of the pause on taxes imposed on digital media like movies and video games. The WTO decided to prolong the suspension until their next biennial meeting.
WTO Director-General Ngozi Okonjo-Iweala acknowledged the summit’s backdrop of heightened uncertainty, emphasizing the organization’s unique structure where each member holds an equal voice, despite the associated challenges.
While not directly addressing specific geopolitical conflicts such as Israel’s actions against Hamas in the Gaza Strip, Okonjo-Iweala previously highlighted disruptions caused by Yemen’s Houthi rebels in the Red Sea.
Looking ahead, elections across a significant portion of the world’s population could introduce further complexities for the WTO. Of particular importance is the United States presidential election on Nov. 5.
Former President Donald Trump, who had previously threatened to withdraw the U.S. from the WTO and imposed tariffs on various trading partners, is running again. A potential Trump victory could disrupt global trade once more.
However, even in the event of President Joe Biden’s reelection, the U.S. remains skeptical about the WTO. Over the past administrations, the U.S. has blocked appointments to the WTO’s appeals court, rendering it non-operational. Additionally, Washington has criticized China’s status as a developing country within the WTO, accusing Beijing of unfair trade practices and intellectual property theft.
