Japan, U.S., EU to Jointly Submit WTO Reform Proposals

September 26, 2018

New York- Trade ministers from Japan, the United States and the European Union agreed Tuesday to jointly make proposals to reform the World Trade Organization.

Meeting in New York, Japanese Minister of Economy, Trade and Industry Hiroshige Seko, U.S. Trade Representative Robert Lighthizer and European Commissioner for

Trade Cecilia Malmstroem shared the view that competition has been distorted by industry subsidies and preferential treatment of state-owned companies, apparently referring to the situation in China.

They agreed to jointly submit reform proposals, such as the strengthening of the system to monitor subsidies, to a meeting of the WTO's Council for Trade in Goods to be held in November.

President Donald Trump has threatened to withdraw the United States from the WTO, claiming it has failed to address unfair trade practices by China and other countries.

"It's important (for the United States) to play a part in the efforts to reinforce the multilateral trade system based on rules," Seko told reporters after Tuesday's meeting, showing his eagerness to cure the United States' discontent through the promotion of WTO reforms. Jiji Press