Economics
EU Rushes Out Proposals for WTO Revamp Amid Trump Trade Pressure
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The European Union outlined ways to bolster the World Trade Organization in a bid to keep U.S. President Donald Trump committed to the global commercial order that America helped shape after World War II.
EU Trade Commissioner Cecilia Malmstrom presented a “concept paper” aimed at strengthening WTO rules against trade-distorting subsidies, averting a deadlock in the dispute-settlement system of the organization and enhancing its monitoring role. The bloc plans to share the ideas with trade partners at a Sept. 20 meeting in Geneva being organized by Canada.