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Roberto Azevedo

WTO ratifies first multilateral trade deal

GENEVA: The first multilateral deal agreed at the World Trade Organization came into force on Wednesday, a step billed as a milestone for the body facing unprecedented threats from a hostile US administration.  The Trade Facilitation Agreement (TFA) has now been ratified by 112 of the WTO's 164 members, crossing the two-thirds threshold needed for activation, the Geneva-based organisation confirmed. Under the deal, nations agreed to simplify and standardise customs procedures at borders to make it easier for goods to…

WTO chief says no ‘indication’ US will quit body under Trump

GENEVA: The head of the World Trade Organization said Thursday he had received no indication the United States would move to leave the WTO under Donald Trump's administration.  "I haven't had any indication from anybody that that could be the case," WTO chief Roberto Azevedo told reporters. During his campaign, in which he repeatedly attacked global trade deals, President-elect Trump called the WTO a "disaster" and said the US would "pull out" of the Geneva-based body if Washington was not able renegotiate the rules on…