WTO talks in Cameroon end without e-commerce moratorium deal
The latest World Trade Organization (WTO) meeting in Cameroon wrapped up with no deal on key reforms or the future of the e-commerce moratorium on duties for electronic transmissions (e.g., digital downloads and streaming).
The main roadblock? A standoff between Brazil and the US leaving many wondering if the WTO can still keep global trade on track.
Britain's Business and Trade Secretary Peter Kyle called it a "major setback for global trade," highlighting just how much is at stake.
Brazil offered 4 year compromise
Brazil wanted a short-term extension of the ban on digital customs duties, while the US pushed for something permanent.
Even when Brazil offered a four-year compromise, talks broke down: At least Turkey was reported to align with Brazil in opposing the longer extension.
With no breakthrough, attention might shift to other big trade deals like CPTPP as countries look for new ways forward.