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The Latest Breaking News from WTO

Russia to update its strategy in World Trade Organization amid sanctions, says Putin

Russian President Vladimir Putin said on Wednesday that "illegal" restrictions on Russian companies by Western states ran counter to World Trade Organization rules and told his government to update Russia's strategy in the WTO by June 1.

Reuters

Saudi Call for Financing First International Fund to Support Global Tourism Sector

Saudi Arabia called on donor countries to participate in financing the first international fund dedicated to supporting the tourism sector.

Asharq Al-Awsat

Poorer countries need urgent food help to stop disorder, say global bodies

WTO and World Bank among those saying richer countries must step in to alleviate effects of rising prices and shortages

The Guardian - UK

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WTO lowers global trade volume growth forecast to 3% for 2022

NEW DELHI: The world merchandise trade volume is expected to grow by 3 per cent in 2022 against the earlier forecast of 4.7 per cent, mainly due to the ongoing war between Russia and Ukraine, the WTO said on Tuesday.

The Times of India

Ukraine war fears saw surge in British shoppers ‘panic buying’ essentials from toilet roll to dried pasta

It comes as the forecast for global trade growth this year was revised down to 3 per cent from 4.7 per cent today

The Independent UK

WTO: War in Ukraine to curb trade, economic growth this year

The World Trade Organization is predicting that trade in goods will grow much less than previously expected this year, saying prospects for the global economy have darkened since the onset of Russia’s war in Ukraine

The Independent UK

India’s role in a disordered world

New Delhi can play an important role in shaping a new, more democratic, world order

The Hindu

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Experts write to PM against WTO proposal on COVID-19 vaccine waivers

“The current version of the text added new burdensome conditions that would impose additional limits on countries using non-voluntary licensing”

The Hindu

Barley exporters in need of another beer-making country or two after China trade ban

Two years on from China trade ban, barley exporters are searching for new markets in beer-making countries in a grab for premium prices.

ABC News

North East offshore wind firms back UK Government in EU dispute over 'discriminatory practices'

The EU has brought a case at the World Trade Organisation alleging UK support for green energy projects is unfair and undermines efforts to address the climate crisis

Birmingham Post

Indonesia's claim that banning nickel exports spurs downstreaming is questionable

The Indonesian government has claimed that its raw nickel export ban, which started in January 2021, has shown positive impacts after seeing increases in mining investments and exports of nickel-derived products.

The Conversation

Food supplies take Ukraine war hit

The war in Ukraine is causing immense, heart-wrenching human suffering. At the World Trade Organization (WTO), an institution based on the rule of law and established to help forge peace, we find the violence abhorrent to our fundamental principles. We echo UN Secretary-General Antonio Guterres's call for the bloodshed to…

Bangkok Post

Brexit: EU launches legal challenge against UK over wind farm subsidies

Not the time to be ‘fighting this out in court’, says Whitehall official

The Independent UK

Profit over public health

The draft TRIPS waiver dents the credibility of the WTO

The Hindu

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The Guardian - UK

War in Ukraine could lead to food riots in poor countries, warns WTO boss

Exclusive: Ngozi Okonjo-Iweala says impact of conflict on food prices and hunger could be substantial

The Independent UK

Ex-minister joins call to end UK block on drive for poor world access to Covid jabs

Exclusive: Joint letter from 31 parliamentarians warns leaked proposal is not good enough

The Guardian - UK

Cost of living crisis hitting economic outlook as firms hike prices – as it happened

Rolling coverage of the latest economic and financial news

The Hindu

A blow to equitable access to essential medicines

The ‘compromise outcome’ at the WTO could see India and South Africa losing their lead theme in the COVID-19 fight

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The Conversation

Why a leaked WTO 'solution' for a COVID patent waiver is unworkable and won't make enough difference for developing countries

There was a brief moment of euphoria last week, when it seemed that COVID-19 vaccines, medicines and supplies might be liberated from the World Trade Organization’s intellectual property rights straitjacket and a patent waiver would make them available and affordable to the unvaccinated in the global south.

The Conversation

How Russia is using intellectual property as a war tactic

As part of its deadly assault on Ukraine, Russia has taken the rare step to use intellectual property rights as a war tactic. In early March, the Russian government issued a decree saying that Russian companies are no longer obliged to compensate owners of patents, utility models and industrial designs…

Tribune News Service

House gives Russia trade bill strong backing after Zelenskyy speech

WASHINGTON — The House on Thursday sent the Senate legislation that would revoke U.S. favorable tariff treatment of Russian goods as lawmakers search for ways to isolate and inflict economic pain on Moscow for its invasion of Ukraine.

ABC News

World Trade Organization appoints panel to rule on Australia China wine dispute

The world's trade umpire appoints an independent panel to hear Australia's dispute with China over damaging wine tariffs.

The Hindu

In sanctions route, what the world must take note of

Countering Russia’s illegality against Ukraine with measures not ingrained in international law amounts to reprisal

Roll Call

House gives Russia trade bill strong backing after Zelenskyy speech - Roll Call

The House voted overwhelmingly to pass a trade bill to punish Russia the day after Ukrainian President Volodymyr Zelenksyy's address.

The Conversation

Russia’s no longer a ‘most-favored nation’: 5 questions about the coveted trading status answered

The U.S., the European Union, Japan and Canada are further severing Russia from global markets by removing a coveted trading designation over its war in Ukraine. Known as most-favored-nation status, it generally entitles a country to the best possible trading terms, which comes with many economic benefits. The EU agreed…

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