Europe Says Substantial Deal Unlikely at World Trade Talks
By and-
Fishing subsidies a point of contention in WTO meetings
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EU blames ‘destructive behavior by several large countries’
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The European Union said it was unlikely any substantial deals would be reached at a World Trade Organization meeting in Buenos Aires, highlighting how multilateral trade relations are growing increasingly fraught.
“Members cannot even agree to stop subsidizing illegal fishing,” EU Trade Commissioner Cecilia Malmstrom said on Twitter on Wednesday. “Horrendous. The EU tried really hard, but destructive behavior by several large countries made results impossible. How did we end up here?”
The U.S. Trade Representative’s office later sent out a Tweet, saying it shares Malmstrom’s frustrations over illegal fishing subsidies, and that it will keep working with the EU and others to “tackle the divisions that have stymied progress on this issue and many others at the WTO.”
Emerging economies, including India and South Africa, echoed the EU and U.S. concerns at the gathering, where trade ministers from more than 160 nations are holding biennial talks to strengthen global trade. The meetings are scheduled to wrap up on Wednesday.
The meeting’s chairwoman, Argentina’s Susana Malcorra, had set “austere expectations” on fishing, agriculture and other topics last week. But the meeting got off to a rough start on Monday when U.S. President Donald Trump’s envoy, Robert Lighthizer, said the WTO was too focused on litigating disputes.