EU puts WTO at centre of greener trade reform push



Philip Blenkinsop | Reuters

BRUSSELS (Reuters) – The European Union put reform of the World Trade Organization at the heart of its trade strategy for the next decade on Thursday, saying global rules on commerce must be greener, take more account of state subsidies and be enforced.

The 27-nation bloc’s executive body also said it would seek to work with President Joe Biden’s U.S. administration to address a crisis of confidence in the WTO, where settlement of trade conflicts and negotiations are deadlocked.

“A key driver of the crisis is that China’s accession to the WTO has not led to its transformation into a market economy,” the European Commission said in a communication. “The WTO has not been able to negotiate new rules to tackle this.”

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