WTO Reforms: U.S. Faces Uphill Battle Amid Global Resistance

U.S. Trade Representative Jamieson Greer acknowledged the World Trade Organization's inability to address key global trade challenges. Despite criticism, the U.S. isn't leaving the WTO. Greer highlighted reform proposals but faced opposition from countries like Brazil and Turkey. Concerns remain over the WTO's limitations and the lapse of its e-commerce moratorium.

The World Trade Organization (WTO) is facing criticism for its inability to address pressing global trade challenges, according to U.S. Trade Representative Jamieson Greer. Despite this, the U.S. is not considering exiting the organization, Greer stated during a Bloomberg television interview.

Greer noted that the WTO struggles to tackle issues like structural imbalances, currency concerns, and massive export-driven surpluses, and remains unable to address these on its current agenda. U.S. proposals for reform at a recent meeting in Cameroon saw general support, but opposition from Brazil and Turkey stalled progress.

The lapse of the WTO's 28-year e-commerce moratorium adds to concerns about its effectiveness. Greer stated that if the moratorium is not extended, the U.S. would pursue a separate agreement with other countries to safeguard innovation in technology, aiming to bypass WTO limitations.

(With inputs from agencies.)