2019-12-11 07:38:36
In 1995, developed nations around the world came together to create a means of creating rules for international trade and settling disputes between countries without the use of damaging tariffs. The World Trade Organization, which grew out of that effort, created a consensus-based system of regulations, arbitration, and a de facto court system that gave countries a venue for settling claims against each other. As of Wednesday, though, the WTO will likely cease to function in any real sense. Its policymaking arm has been crippled for years over internal disagreements.