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Position of Joe Biden’s Administration on the World Trade Organization

The election of Democratic Party candidate Joe Biden as President of the United States did not change Washington’s negative attitude towards the activities of the World Trade Organization (WTO). The historically established consensus of the Republican and Democratic parties, expressed in the general...

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Autor principal: Menshikova, A. M.
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Pleiades Publishing 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9522452/
http://dx.doi.org/10.1134/S1019331622120061
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author Menshikova, A. M.
author_facet Menshikova, A. M.
author_sort Menshikova, A. M.
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description The election of Democratic Party candidate Joe Biden as President of the United States did not change Washington’s negative attitude towards the activities of the World Trade Organization (WTO). The historically established consensus of the Republican and Democratic parties, expressed in the general similarity of the approach of the legislative and executive branches of the U.S. government to the WTO as a tool primarily for realizing U.S. national interests in the foreign economic sphere, hinders the achievement of generally acceptable agreements within the WTO in key areas of its activities. Like the previous administration of Donald Trump, Joe Biden’s administration has, in particular, been blocking the activities of the WTO’s Appellate Body for a number of years. Despite the Democratic President’s statements about the commitment of the United States to the principles of liberal trade, the White House, as before, proceeds from the desire to maintain the leading role of the United States in the WTO, even at the cost of curtailing certain areas of its work. The dominant desire is to transform the WTO into an international economic mechanism to strategically contain China and openly oppose Russia by politicizing the WTO and taking measures that pave the way for the complete dismantling of the rules-based multilateral trading system. The WTO is in fact in a state of permanent institutional crisis in a number of central areas of its activity. The only way to deal with the current crisis is to give economics precedence, not politics, and prevent violations of agreed multilateral trade rules by unilateral actions; otherwise the negative impact on world markets and the economies of many WTO members will continue.
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spelling pubmed-95224522022-09-30 Position of Joe Biden’s Administration on the World Trade Organization Menshikova, A. M. Her Russ Acad Sci Economic Problems The election of Democratic Party candidate Joe Biden as President of the United States did not change Washington’s negative attitude towards the activities of the World Trade Organization (WTO). The historically established consensus of the Republican and Democratic parties, expressed in the general similarity of the approach of the legislative and executive branches of the U.S. government to the WTO as a tool primarily for realizing U.S. national interests in the foreign economic sphere, hinders the achievement of generally acceptable agreements within the WTO in key areas of its activities. Like the previous administration of Donald Trump, Joe Biden’s administration has, in particular, been blocking the activities of the WTO’s Appellate Body for a number of years. Despite the Democratic President’s statements about the commitment of the United States to the principles of liberal trade, the White House, as before, proceeds from the desire to maintain the leading role of the United States in the WTO, even at the cost of curtailing certain areas of its work. The dominant desire is to transform the WTO into an international economic mechanism to strategically contain China and openly oppose Russia by politicizing the WTO and taking measures that pave the way for the complete dismantling of the rules-based multilateral trading system. The WTO is in fact in a state of permanent institutional crisis in a number of central areas of its activity. The only way to deal with the current crisis is to give economics precedence, not politics, and prevent violations of agreed multilateral trade rules by unilateral actions; otherwise the negative impact on world markets and the economies of many WTO members will continue. Pleiades Publishing 2022-09-29 2022 /pmc/articles/PMC9522452/ http://dx.doi.org/10.1134/S1019331622120061 Text en © The Author(s) 2022, ISSN 1019-3316, Herald of the Russian Academy of Sciences, 2022, Vol. 92, Suppl. 6, pp. S529–S533. © The Author(s), 2022. This article is an open access publication.Russian Text © The Author(s), 2022, published in SShA & Kanada: Ekonomika, Politika, Kul’tura, 2022, No. 7. https://creativecommons.org/licenses/by/4.0/Open Access.This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons license, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons license and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/ (https://creativecommons.org/licenses/by/4.0/) .
spellingShingle Economic Problems
Menshikova, A. M.
Position of Joe Biden’s Administration on the World Trade Organization
title Position of Joe Biden’s Administration on the World Trade Organization
title_full Position of Joe Biden’s Administration on the World Trade Organization
title_fullStr Position of Joe Biden’s Administration on the World Trade Organization
title_full_unstemmed Position of Joe Biden’s Administration on the World Trade Organization
title_short Position of Joe Biden’s Administration on the World Trade Organization
title_sort position of joe biden’s administration on the world trade organization
topic Economic Problems
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9522452/
http://dx.doi.org/10.1134/S1019331622120061
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