- Is the @WTO doomed?
- What is the FART Act, really?
Answering in a thread 👇 and retweeting in case others are interested.
The WTO has struggled before, but generally this has been combined to the negotiations (new rules) pillar of its work, while monitoring and dispute resolution ticked along.
This situation is different.
Because appointments are for a fixed term, the Body may soon drop to less than the three judges it needs to convene a panel.
Thats kind of fair. China for example spends billions on Agriculture Subsidies. Last notification was 2010.
The Trump administration in contrast believes trade wars are good and easy to win.
That brings us to the FaRT Act.
Under US law, Congress is in charge of tariffs but the President has some 'break in case of emergency' powers.
This is similar to how only Congress can declare war, but the President can still send troops places.
Put very simply, the Commerce Department has to investigate each product and determine there's an emergency or national security threat.
The image of handing a flamethrower to a toddler comes to mind.
Well, first the FaRT Act was drafted in May and immediately forgotten because it would be dead on arrival in Congress.
Second, as often happens the attack on the system has reminded Members why they need it. The EU, Japan and even China are rallying to it.
Fourth, finally and most importantly, the system has to survive because I have literally no other skills. If the WTO dies, send food.
/Thread
Happy to expand/clarify/be corrected.