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1 1 (December 7, 2022)

handle is hein.crs/govejqq0001 and id is 1 raw text is: World Trade Organization The World Trade Organization (WTO) is an international organization established in 1995 following the ratification of the Uruguay Round Agreements, and today includes 164 members. It succeeded the 1947 General Agreement on Tariffs and Trade (GATT), created as part of the U.S. and Europe-led post-WWII effort to build a stable, open international trading system. The WTO's basic functions are: administering its agreements; serving as a negotiating forum for trade liberalization and rules; and providing a mechanism to settle disputes. The multiple WTO agreements cover trade in goods, agriculture and services; remove tariff and nontariff barriers; and establish rules on government practices relating to trade (e.g., trade remedies, technical barriers to trade, intellectual property rights (IPR), and government procurement). The agreements are based on the core principles of non-discrimination-most-favored nation (MFN) and national treatment, fair competition, and transparency of trade rules and regulations. WTO rules allow for exceptions, such as preferential treatment and flexibilities for developing countries. The GATTIWTO system over time has led to a significant reduction of trade barriers, supported trade expansion and economic growth, and helped manage trade frictions. At the same time, the WTO faces serious challenges. One key concern raised by observers is that the WTO is losing relevance due to its inability to adapt to the modern global economy. For decades, members struggled to negotiate a successful round of major trade liberalization since 1994. In recent years, many have increasingly resorted to measures that may violate core trade rules. Moreover, challenges, such as the Coronavirus Disease 2019 (CO VID-19) pandemic and Russia's 2022 war in Ukraine, have disrupted global trade and supply chains and prompted trade-related responses. WTO members have proposed various reforms to the institution in attempts to safeguard and improve it. Congress has recognized the WTO as the foundation of the global trading system, and it plays a legislative and oversight role over WTO agreements. Some Members have expressed support for WTO reforms, new rules, and U.S. leadership (e.g., S.Res. 101, S. 3708). The Biden Administration committed to renewed U.S. support for multilateralism and WTO reform, and remains engaged in ongoing negotiations. Amid debates over the WTO's future, several issues may be of interest to Congress, including the WTO agreements' effects on the U. S. economy, outcomes of reform and negotiation efforts, and the value of U.S. membership and leadership within the WTO. Th oa on The Doha Development Agenda, the latest round of multilateral negotiations, was launched in 2001, but ended in stalemate in 2015 with no clear pat forward (Table 1). The WTO's diverse membership and the single undertaking approach made consensus on the broad Doha mandate difficult, and these aspects continue to beset Updated December 7, 2022 ongoing talks today. Doha was characterized by persistent differences among the United States, the European Union, and developing countries across major issues. Developing countries sought the reduction of agriculture tariffs and subsidies by developed countries, nonreciprocal market access for manufacturing goods, and protection for services industries. Developed countries sought reciprocal trade liberalization, especially access to advanced developing countries' industrial and services sectors, while retaining some protection for agriculture. Agriculture, where multilateral solutions arguably remain ideal, is among the thorniest issues left on the Doha agenda. In 2015, members agreed to limited deals, including on export subsidies and measures for least developed countries. Doha's legacy may be the successful negotiation of the 2013 Trade Facilitation Agreement, which removes customs obstacles at the border. Table I. GATTIWTO Rounds source: L.KJ based on VV I U. Note: *In 2015, WTO members failed to reaffirm Doha's mandates. Observers generally view Ministerial Conferences (MC) as action-forcing events for the WTO. After significant delay, WTO members held the 12t MC in June 2022, with several outcomes, including a limited multilateral agreement on fisheries subsidies. The deal, resulting from prolonged talks since 2001, commits to curb certain harmful subsidies. It was notable as the only current multilateral negotiation within the WTO and the first to cover sustainability issues. WTO members are to continue talks on key issues left out of the final agreement-see CRS In Focus IFi 1929. Other decisions include extending a moratorium on e-commerce duties and a package on WTO responses to emergencies, covering food security, a World Food Programme exemption from export prohibitions, and pandemic responses, including an IP waiver (see below). Observers viewed MC1 2 outcomes as boosting the WTO's credibility, while urging continued progress on outstanding critical issues, such as on agriculture, subsidies, and WTO reform.

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