The World Trade Organization released a list of trade bottlenecks and trade-facilitating measures on critical COVID-19 products in a July 20 publication, ahead of the July 21 High-Level Dialogue by the World Health Organization and WTO on expanding COVID-19 vaccines manufacturing to promote equitable access. The indicative list covers vaccine production inputs, vaccine distribution and approval, therapeutics and pharmaceuticals, diagnostics and medical devices. The publication also lays out suggestions made by speakers at the WTO's webinar on regulatory cooperation during the COVID-19 pandemic, which include general import, export and transit procedures, and vaccine manufacturing and regulatory approval. “The list is not meant to be an exhaustive list of all specific trade barriers, nor does it make any judgement on the existence or importance of bottlenecks, nor on the desirability of implementing any of the suggestions on trade-facilitating measures,” the WTO said in an accompanying news release.
The U.S. will join World Trade Organization negotiations on strengthening transparency and fairness in domestic licensing procedures for service professionals, the Office of the U.S. Trade Representative announced July 20. The WTO Joint Statement Initiative on Services Domestic Regulation (DR JSI) negotiations should be wrapped up by the WTO ministerial meeting in November, USTR added. The DR JSI in particular can aid industries such as retailing, express delivery and financial services, the release said. USTR also pointed to the improvements to transparency and due process introduced in the USMCA that will be expanded upon in regulations under negotiation.
World Trade Organization Director-General Ngozi Okonjo-Iweala said there is now political support to move forward on an agreement to curb subsidies that lead to overfishing. The draft text has been blessed by all the heads of delegations in Geneva, she said in a news conference July 15.
Since China failed to implement the recommendations from the World Trade Organization's Dispute Settlement Body on how to bring tariff-rate quotas on agricultural products in line with WTO commitments, the U.S. is seeking to implement countermeasures on the TRQs, the U.S. delegation to the DSB said in July 16 comments. Submitting their rationale in a one-page brief to the DSB ahead of the July 26 meeting, the U.S. delegation discussed how it is seeking the countermeasures under the Understanding on Rules and Procedures Governing the Settlement of Disputes (DSU).
The World Trade Organization, along with the International Trade Centre and the United Nations Conference on Trade and Development, released the World Tariff Profiles 2021 July 14 -- a comprehensive publication on the tariffs and nontariff measures enacted by over 170 countries and customs territories. The publication includes summary tables that allow comparisons across countries of the average or maximum tariff each economy puts on its imports and the average in-practice tariff rate. Each country or customs territory also has its own one-page profile with breakout lines for each product group. The profiles report, in a new section, also breaks down nontariff measures, looking at three indicators of NTMs (frequency index, coverage ratio and prevalence score). Almost 60% of imported goods need to comply with at least one NTM, leading to almost 80% of imported goods by value being subjected to NTMs, the report said.
The World Trade Organization issued an indicative list of critical inputs for the "manufacturing, distributing and administering" of COVID-19 vaccines on July 7. The list was first compiled at a COVID-19nvaccine supply chain symposium and jointly produced with the Asian Development Bank, the Organization for Economic Cooperation and Development, the World Customs Organization, some COVID-19 vaccine manufacturers, researchers Chad Bown and Chris Rogers, the Coalition for Epidemic Preparedness Innovations and DHL. While the list holds no legal status, it is based on the 2017 Harmonized System and is intended to help scale up global vaccine production and cooperation, according to an accompanying press release. The list was also released "without prejudice to the actual tariff classification assigned by WTO members' customs administrations at the time of importation."
World Trade Organization Ambassador Santiago Wills of Colombia, who chairs WTO's fisheries subsidies negotiation, submitted on June 30 a revised version of the draft text on the fisheries subsidies agreement. A ministerial meeting will be held July 15. The revised text includes an initial text on the prohibition of subsidies on illegal, unreported and unregulated fishing, subsidies toward overcapacity and overfishing, and specific provisions for least developed country members. “In this sense, the text should help ministers to engage on 15 July in a way that will provide us the kind of push and political guidance that we need at this stage to be able to move towards conclusion,” Director-General Ngozi Okonjo-Iweala said in a statement. “I sense a change in mood, and we should take advantage of that mood to push towards concluding these negotiations.”
The deadline for least developed countries to align their intellectual property rights protections under the World Trade Organization's Agreement on Trade-Related Aspects of Intellectual Property Rights, which was to expire July 1, is now July 1, 2034, a June 29 WTO news release said. TRIPS Council members approved the 13-year extension June 29. The TRIPS transition period for LDCs has twice before been extended -- in 2005 and 2013.
World Trade Organization Deputy Director-General Angela Ellard focused on the positive in her keynote speech to the American Association of Exporters and Importers, even as she recognized the strain the COVID-19 pandemic put on trade and the rise in protectionism in recent years.
The European Union and the U.S. working together have the leverage to change China's distortions in the world economy, experts speaking during a three-day series on EU-U.S. trade issues said. But it's not easy, with the economic interests of German manufacturers in China, the history of trade tensions across the Atlantic, and bureaucratic torpor on both sides, they said.