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WTO, EU, United States discussed on FT World Weekly

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In the system the dispute settlement a function of the wto that that that role as a as a global referee that's the whole reason the wto and its establishment in the mid 1990s was so important before that you had these kind of one on one uh trade wars that were being waged all over the world us against japan the eu against the u s a and so on he had no one in the middle no neutral arbiter to kind of blow the whistle in say in a back in your box um it and and that's what the wto has been doing you lose that and you start moving much more down the path of of of of potential trade wars now donald trump clearly doesn't like the wto because the wto has been blowing the whistle on the united states a fair amount in in uh in recent years mainly a uh in in the area of antidumping a cases where the us is particularly aggressive so you know he wants to be liberated to do the kind of hard trade measures uh that he wants to do and if he doesn't have the wta owned the picture um that's going to help them do that and just to be clear he sabotaging this'll the trump administration is by just blocking the appointment of these crucial apple it judges absolutely so the wto are operates by consensus at one hundred sixty four members any one of which can can can block proceedings uh simply by by refusing to sign off on something and brief aim a modern putting my parochial british hats on kind of interesting isn't it when the brexit is argument is well we can wasteful back on wto rules of the wto itself is in a state of decrepitude now that's a good point dare i think we could also mention the of one of the other possible sort of pulse brexit's solution people talk about joining nafta will if nafta unravels that's not much to maybe you just become a pacific nation m betts a just not to get too close a sense from both a field where you think we all sorts of a politically with with the world trade system because on the one hand uh.

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