Published on : Dec 15, 2017
Members of the World Trade Organization (WTO) failed to make any progress after having a discussion for four days as India and the U.S. are not will to move from their widely contradicting stand on almost all the issues. This has raised a new air of uncertainty over the changing trade rules across the world for the development of poor countries. On Tuesday, the U.S. refused to aid a solution to public stocking of food grains and the talks have been on the brink since then. The Indian government was aggressively pursuing this as it wanted to settle the debate, in spite of a decision that no litigation would be thrown up on any one even if the spending of a nation on food procurement through various arrangements, such as minimum support price, move beyond 10% of the production value.
The U.S. finally nailed the coffin on Wednesday by stalling dialogues on agricultural reforms. It also blocked the discussion on the modification in trade-distorting subsidies provided to agrarians in developed economies. Although the rich nations have refused to discuss on farming issues, they have begun to push for having a more intense dialogue on a global standardization of e-commerce, which is something that nations, such as South Africa and India were not willing to agree to. In a diplomatic exercise, the WTO secretariat and the Argentinian organizers tried to build up a draft declaration; however, India refused agreeing to it, stating that the concerns it put forward is not factored in.