Members of the World Trade Organization reached a scaled-back deal Saturday that will still take months, if not years, to fully take effect.
They have completely abandoned the goal of eliminating or reducing tariffs on a range of goods and services … Saturday’s modest ‘deal’ has as its centrepiece … (wait for it) … an effort to streamline customs procedures. This after negotiations commenced in 2001. Good job, chaps (yes, sarcasm).
“We have saved the WTO,” said European Trade Commissioner Karel De Gucht. U.S. Trade Representative Michael Froman said
Yes, quite. Saved his job is what he meant to say I would think.
WTO Staggers On After Limited Trade Pact
(Wall Street Journal, gated. If you’re unable to access the article try a search of Google news using the headline)
