Canada Unveils Plan to Bolster WTO in Face of U.S. Protectionism

(Bryce Baschuk – Bloomberg)

The Canadian government released a new blueprint Tuesday to reinforce the World Trade Organization and buffer it from President Donald Trump’s ‘America First’ attacks on the Geneva-based trade body.

The proposal, called “Strengthening and Modernizing the WTO,” seeks to forge an alliance of like-minded countries to “restore confidence in the multilateral trading system and discourage protectionist measures and countermeasures,” according to a copy of the eight-page document obtained by Bloomberg.

The effort is one of several initiatives aimed at shoring up the WTO as it confronts an array of crises that could ultimately sideline the organization’s role as the arbiter of global trade. Trump has threatened to withdraw from the WTO, repeatedly attacked the organization as being biased against U.S. interests and is slowly strangling the dispute settlement system, which mediates trade disputes that affect some of the world’s largest companies. Click here to read more.