What's Next For The World Trade Organization?

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Forbes  | Wed, Oct 31, 2018

by Phil Levy

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Since the Second World War, the United States has been a driving force in shaping the global trading system. From the General Agreement on Tariffs and Trade (GATT) to the creation of the World Trade Organization (WTO) to the launch of the ill-fated Doha round of trade talks, the United States has nudged and cajoled the major trading nations of the world to come together and solve pressing trade issues.

So it was bracing last week when, in a time of peril for the WTO, the United States was not at the table. Given the strident criticism of the WTO emanating from the Trump administration and its role in both blocking the functioning of the WTO and in sparking trade conflicts, other prominent countries decided it was better not to include America at first. They met on their own and tried to chart a path forward.

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