12/11/24 | 4:58 pm | World Trade Organization

Print

WTO may seek to reappoint chief ahead of Trump presidency

The World Trade Organization plans a special meeting of its top decision-making body later this month where a call could be made on the reappointment of its Director-General Ngozi Okonjo-Iweala, a document showed on Tuesday.

Trade sources said such a meeting appeared to be a route that could fast-track the months-long appointment process to avoid any risk of it getting blocked by U.S. President-elect Donald Trump, whose teams and allies have criticised both Okonjo-Iweala and the trade watchdog in the past.

A WTO document sent by the General Council chair said the first day of the Nov. 28-29 meeting would allow Okonjo-Iweala, a former Nigerian finance minister, to present her vision for the 166-member organisation and answer delegates’ questions. The second day “could then provide an opportunity for Members to take a decision on the appointment of the next Director-General”, it said.

Okonjo-Iweala is the sole candidate for the job but some have observed that the WTO’s lengthy reappointment process could allow for U.S. President-elect Donald Trump’s team to oppose her candidacy.

In 2020, Trump’s administration sought to block her first term. She secured U.S. backing only when President Joe Biden succeeded Trump in the White House.

Those who follow the trade body say it is likely to face a messy, recriminatory period for trade under Trump, who has promised to impose a 10% tariff on all imports and higher rates on countries such as China.

(Reuters)

RELATED ARTICLES

23 mins ago | Canadian Businesses

Piyush Goyal pitches India as manufacturing, innovation base for Canadian businesses

Union Commerce and Industry Minister Piyush Goyal has urged Canadian businesses to use India as a manufacturing, innovation and design base to serve global markets, highlighting the country's talent pool and expanding preferential trade access as opp...

1 hour ago | early trade led by IT firms

Stock markets rebound sharply in early trade led by IT firms

Benchmark indices Sensex and Nifty rebounded sharply in early trade on Thursday led by a rally in IT stocks and easing crude oil prices. The 30-share BSE Sensex climbed 354 points to 73,157.43 in early trade. The 50-share NSE Nifty was up 96.15 poin...

2 hours ago | AI trades crumble

Asian markets sell off as AI trades crumble after hot US CPI data

Markets started the day on the back foot as trading kicked off in Asia on Thursday, as a quicker-than-expected increase in US consumer price inflation upped expectations for the Federal Reserve to act later this year and pushed stocks lower. MSCI's ...