Due to the split between WTO members and the habit of taking unanimous decisions, analysts at ING think there is little chance of a big overhaul reform that addresses all of the objections.
Key Quotes
“But, it might be possible to strike a deal on the issue of the dispute settlement mechanism, thereby, averting the acute danger of the WTO falling apart. This week the EU and 11 other countries reached out to the US proposing reforms. Although the US rejected the idea of these specific reforms in the concept phase, they may be a good starting point at the negotiation table.”
“Having said this, the question remains whether or not the US will push it too far. The White House administration’s current stance towards trade and the WTO may be unhelpful if comprises are needed. Despite this, other countries may be willing to give in to keep the WTO alive.”
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