The United States Trade Representative, Robert Lighthizer, said on Thursday (09.07.2020/XNUMX/XNUMX) that the world needed either a multilateral system to govern global trade or a series of bilateral agreements, but the two are in conflict with each other.
El funcionario He spoke at a webcast event hosted by the Chatham House think tank. based in London, where Lighthizer said the proliferation of some 77 bilateral free trade agreements (FTAs) in Europe was “one of the biggest challenges to the multilateral trading system.”
He said that for revive the multilateral trading system Enshrined in the World Trade Organization, it called for a “reset” of global tariff rates, an end to making new trade rules through WTO litigation, and new ways to effectively deal with China’s state policies, economic model, and non-tariff barriers such as food and product safety standards.
“FTAs, in my opinion, we should get rid of them. We should have a multilateral system or a bunch of bilateral systems,” Lighthizer said. “And to be honest, I can go either way. But We cannot have people who… profess multilateralism and then are basically the biggest advocates of a bilateral system.«.
Last week, the United States launched a new trade agreement with Mexico and Canada and is in the process of negotiating bilateral trade deals with the United Kingdom and Kenya after activating a “Phase 1” trade deal with China in February.
Lighthizer and U.S. President Donald Trump have long argued that bilateral trade deals were better for the United States than multilateral ones, such as the Trans-Pacific Partnership. Trump pulled the United States out of the TPP on his third day in office in 2017.
Lighthizer also said that Former British Trade Secretary Liam Fox is a “favourite” to become the next director-general of the World Trade Organization, but said that There were also other good candidates and that the Trump administration is still considering which of the seven to support.
“If you ask, what are we looking for? A number one who understands that we have a fundamental need for reform,” Lighthizer said, adding that the WTO was in «a turning point"which could significantly change its current form. The next WTO chief will also need to understand that China is "state capitalism," he said.
Source: Reuters
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
