Valerie Hughes writes in The Globe Post on why new efforts to preserve the World Trade Organization (WTO) are critical. It’s an urgent matter, due to the impending collapse of the WTO dispute settlement system. The system is the foundation of the global rules-based trading system and the only available means of ensuring compliance with multilateral trade rules.
Valerie says the WTO Appellate Body is in danger of grinding to a halt due to the failure of WTO members to appoint judges to hear appeals. For almost two years now, the United States has vetoed the launch of a process to fill seats of retired judges on the seven-member Appellate Body.