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BREAKING NEWS

U.S. drafts WTO reform to halt handouts for big and rich states

U.S. drafts WTO reform to halt handouts for big and rich states
FILE PHOTO: A logo is pictured outside the World Trade Organization (WTO) headquarters next to a red traffic light in Geneva, Switzerland, October 2, 2018. REUTERS/Denis Balibouse/File Photo -
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Denis Balibouse(Reuters)
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GENEVA (Reuters) - The United States proposed a reform of the World Trade Organization on Friday that would slash the number of countries that are eligible for "special and differential treatment", a plan likely to be resisted by China, India and other countries.

The United States has long complained that WTO members such as China and India can self-designate as "developing countries", entitling them to a range of benefits and lenient treatment at the WTO.

In the draft reform posted on the WTO website, it said current and future trade negotiations should withhold such special treatment from countries classified as "high income" by the World Bank, OECD members or acceding members, G20 nations and any state accounting for 0.5 percent or more of world trade.

(Reporting by Tom Miles; Editing by Alison Williams)

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