{"id":150672,"date":"2020-07-17T22:20:53","date_gmt":"2020-07-17T22:20:53","guid":{"rendered":"https:\/\/www.bnreport.com\/liam-fox-theres-room-for-us-compromise-at-wto\/"},"modified":"2020-07-17T22:20:53","modified_gmt":"2020-07-17T22:20:53","slug":"liam-fox-theres-room-for-us-compromise-at-wto","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/liam-fox-theres-room-for-us-compromise-at-wto\/","title":{"rendered":"Liam Fox: Theres room for US compromise at WTO"},"content":{"rendered":"

LONDON \u2014 There is \u201croom for compromise\u201d on American obstruction of the World Trade Organizations trade dispute body, said former U.K. Trade Secretary Liam Fox in his pitch<\/a> for the global trade bodys top job today.<\/p>\n

U.S. President Donald Trump has said the WTO is soft on China and has blocked the nomination of new judges to its highest dispute-resolution forum, the Appellate Body \u2014 to the point it is no longer able to function<\/a>.<\/p>\n

Actions like these put the \u201cwhole rules-based system under threat,\u201d said Fox, who argued for a politician, not a technocrat<\/a>, to take up the role of director general.<\/p>\n

But Fox said he has spoken to the Americans and that compromise is possible. Currently, the remit of the trade dispute forum is \u201cdrawn so widely,\u201d he said, arguing that its parameters should be \u201cnarrower.\u201d Only by negotiating with the U.S. could the WTO work to \u201cedge ourselves closer to the compromise that will be necessary to underpin the basic values of the system,\u201d he said.<\/p>\n

Last week, U.S. Trade Representative Robert Lighthizer called Fox a friend and \u201cone of the favorites\u201d to head the WTO<\/a>. Lighthizer has said a \u201cbroad reset\u201d is needed at the global trade body.<\/p>\n

On Friday, Fox argued the WTO had \u201clost some of the political momentum required\u201d to reach compromises and that there has been \u201ctoo little political will\u201d in the organization to make it relevant on the world stage.<\/p>\n

\u201cEverything isnt as it should be,\u201d Fox said, calling for a renewed reliance on the rules-based trade system so that the world does not become a \u201cfree for all\u201d where only the strongest countries get what they want.<\/p>\n

\u201cThis is not a job for a technocrat, this is a job for a politician,\u201d Fox said, adding he has the battle scars from 28 years in politics, operating on the world stage at the highest levels of the Read More \u2013 Source<\/a>
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politico<\/a><\/h5>\n

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LONDON \u2014 There is \u201croom for compromise\u201d on American obstruction of the World Trade Organizations tra..<\/p>\n","protected":false},"author":1,"featured_media":150673,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-150672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nLiam Fox: Theres room for US compromise at WTO - Business News Report<\/title>\n<meta name=\"description\" content=\"LONDON \u2014 There is \u201croom for compromise\u201d on American obstruction of the World Trade Organizations tra..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/liam-fox-theres-room-for-us-compromise-at-wto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Liam Fox: Theres room for US compromise at WTO - 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