WTO members activate baseline digital trade rules

Change
66 WTO members agreed to bring the world's first baseline digital trade rules into force among consenting participants.
WTO members activate baseline digital trade rules
Why it matters
Consenting members can now apply a common set of digital-trade obligations to their mutual trade, enabling enforcement of cross-border e‑commerce and data rules within that group. The arrangement circumvents the WTO's unanimous-consensus requirement for full adoption, reducing holdout members' leverage while broader incorporation into the WTO remains pending.
Implications
  • The United States' non-participation means U.S. firms will not be bound by the pact's obligations.
  • Participants represent about 70% of global trade, so the pact will govern a majority share of digital trade flows among consenting members.

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Source

Economic Times

Topics

Trade & Tariffs Cloud & Data

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