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WTO

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by

Michael Tamony

on 2 October 2012

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Transcript of WTO

157 countries as of August 12, 2012 The WTO's main purpose is to keep trade flow as free as possible, so long as there are no negative side effects The WTO accomplishes this by creating rules and contracts between nations that legally obligate them to maintain the agreements form World Trade Organization The structure of the WTO Ministerial Conference Dispute Settlement Body General Council Trade Policy Review Body Appellate Body
Dispute Settlement panels Trade and Environment
Trade and Development
Regional Trade Agreements
Balance of Payments
Restrictions
Budget, Finance and
Administration Council for
Trade in Goods Council for
Trade-Related Aspects
of Intellectual
Property Rights What is the WTO? Created January 1st, 1995 A place for governments to negotiate trade agreements Born during the Uruguay Round negotiations under the General Agreement on Tariffs and Trade (GATT) Council for
Trade in Services Achievements 1947 1949 1950 1956 1960-61 1963-67 1973-79 1985-94 2001-? Goals of the WTO Geneva Annecy Torquay Geneva Dillon
Round Kennedy
Round Tokyo
Round Uruguay
Round Doha
Round History • Established in 1944 to provide low interest loans, interest free credit and grants to developing countries.
• 2/3 of the WTO member are developing countries
• Provides support for education, health care. Public administration, infrastructure, financial guidance, and private sector development
• The world bank recently provided support to the Haitian education system to ensure that thousands of children remain in school. 1999 2001 2006 2009 2011 Information Technology Agreement China Subsidies
Scrutinized 400th Trade Agreement Russia International organization consisting of 188 countries
Ensure stability of the international monetary & financial systems
Facilitating the expansion & balanced growth of international trade, promoting exchange stability, and providing the opportunity for the orderly correction of countries balance of payments problems International organization founded in 1945 consisting of 51 countries
Committed to maintaining international peace & security, developing friendly relations among nations & promoting social progress, better living standards and human rights China/US Trade Dispute
• U.S. accuses China of dumping industrial products into U.S. Market.
• U.S. accusations that China has so far failed to live up to its WTO obligations.
• Implications for both countries and the world if the trade dispute escalates. Current Events E.U. asks WTO for $12 Billion settlement against U.S.
Subsidies to Boeing.
U.S. claims subsidies to Airbus from France. Ukraine notified the other 156 members of the WTO, with a document in early September, that it intended to raise the ceilings on more than 350 tariffs.
If other countries were to do the same, the system of legally binding tariff ceilings could unravel. Questions?
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