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US says world backsliding on trade deal

Friday, July 25 17:22:21

U.S. Trade Representative Michael Froman said today backsliding on a World Trade Organization deal struck in Bali last December threatened a serious blow to the credibility of the global trading system.

"We are deeply disappointed that backsliding on trade facilitation has brought the WTO to the brink of crisis," Froman said after India said it will only back customs reforms if its demands on food stockpiling rules are implemented in the same timeframe.

The United States would consult with other WTO members on appropriate next steps, he said in a statement.

For more see: www.businessworld.ie