Discord at WTO meet: No deal on food security, fisheries subsidies, e-com

The World Trade Organisation failed to reach any new agreements on Wednesday, ending a three-day ministerial conference in discord in the face of stinging US criticism of the group and vetoes from other countries.

The stalemate dashed hopes for new deals on e-commerce and curbs to farm and fisheries subsidies and raised questions about the body’s ability to govern increasingly disputed global trade.

The frustrations led some ministers, including US Trade Representative Robert Lighthizer, to suggest that negotiations among smaller groups of “like-minded” WTO countries were a better approach going forward.

“We have not achieved any multilateral outcomes,” European Union Trade Commissioner Cecilia Malmstrom told a news conference. “The sad reality is that we did not even agree to stop subsidising illegal fishing.”

She said the meeting laid bare one of the WTO’s biggest deficiencies - that all agreements must have the unanimous consent of all 164 member countries. She said the United States was partly to blame but that other countries also blocked progress.

WTO Director-General Roberto Azevedo added that WTO members needed to do some “real soul searching” about the way forward and realize they cannot get everything they want.

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Donald Trump tells Merkel he is not an isolationist; calls for 'fair trade'

President Donald Trump on Friday dismissed the notion that he was an "isolationist" in his policies, as he held talks with German Chancellor Angela Merkel and asserted that Germany and the US must work together towards fair and reciprocal trade policies.

"My administration is in the process of rebuilding the American industrial base. A stronger America is in the interest, believe me, of the world as a whole," Trump told reporters at a joint news conference with the visiting German Chancellor Merkel.

Germany and the United States, he said, must work together towards fair and reciprocal trade policies that benefit people of both the countries.

"Millions of hard-working US citizens have been left behind by international commerce, and together, we can shape a future where all of our citizens have a path to financial security. The United States will respect historic institutions and we will also recognise the right of free people to manage their own destiny," Trump said.

On immigration, another issue dividing Merkel and the new US president, Trump said immigration was a "privilege" and not a "right".

Responding to a question, Trump refuted the impression that he is an isolationist.

"I don't believe in an isolationist policy. But I also believe a policy of trade should be a fair policy. The United States has been treated very, very unfairly by many countries over the years. That's going to stop. But I'm not an isolationist," he said.

"I'm a free trader, but I'm also a fair trader. Our free trade has led to a lot of bad things happening. You look at the deficits that we have, and you look at all of the accumulation of debt. We're a very powerful country. We're a very strong country," said the US President.(READ MORE)