International Trade News

WTO Members Agree on a 2020 Budget, Averting Jan. 1 Shutdown (1)

Dec. 5, 2019, 4:49 PM

World Trade Organization members agreed to a preliminary 2020 budget, bowing to U.S. demands to choke off funding to the alliance’s appellate body.

The WTO’s budget committee on Thursday gave initial approval to a 197.2 million-Swiss franc ($200 million) funding package for next year and agreed to delay their consideration of the 2021 budget, according to a spokesman for the Geneva-based institution.

Last month, the Trump administration said it was considering a veto of the budget over its opposition to the WTO’s appellate body, the panel that has the final say in trade disputes that affect billions of dollars...

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