Axios certainly has the best intro to today’s bombshell development: “Internationalists have always dreamed of a court with jurisdiction over all the countries of the world. In 1995, the World Trade Organization was created — allowing the world’s countries to press claims against one another for the first time.”
But it won’t survive the Trump presidency as on Tuesday his administration has effectively brought it to an end, neutering its ability to intervene in trade wars, having blocked all new appointments to its dispute-resolution court.
Starting two years ago the US administration began blocking appointments, and now Trump has run out the clock as the now paralyzed WTO’s Appellate Body over that period declined from seven judges to three, and with two more terms expiring Tuesday, only one judge remains, thus without the ability to issue a binding ruling.
Also per Axios: Donald “Tariff Man” Trump (his words) can now impose whatever tariffs he likes, without fear that the WTO might find them to be illegal.
However, there’s widespread perception that the WTO has been rendered obsolete until it undertakes major reforms — for example criticisms that it frequently fails to abide by its own rules, has an inconsistent appeals mechanism, and its rules fail to account for state-controlled enterprises. – READ MORE