WTO may seek to reappoint chief ahead of Trump presidency

investing.com 12/11/2024 - 09:54 AM

WTO Considers Reappointment of Director-General Ngozi Okonjo-Iweala

By Emma Farge

GENEVA (Reuters) – The World Trade Organization (WTO) is set to hold a special meeting of its decision-making body later this month. This meeting may discuss the reappointment of its Director-General, Ngozi Okonjo-Iweala, as indicated by a document released on Tuesday.

Sources in the trade sector suggest that this meeting could expedite the lengthy appointment process to minimize the risk of opposition from U.S. President-elect Donald Trump, who has previously criticized both Okonjo-Iweala and the WTO.

According to a WTO document from the Chair of the General Council, the meeting scheduled for November 28-29 will allow Okonjo-Iweala, a former Finance Minister of Nigeria, to outline her vision for the 166-member organization and respond to queries from delegates. On the second day, members may potentially decide on the new Director-General.

Okonjo-Iweala is the only candidate for the position; however, some observers believe the lengthy reappointment process could enable Trump's team to contest her nomination. In 2020, the Trump administration attempted to block her first term, and she only received U.S. support when President Biden took office.

Experts believe the WTO is likely to enter a turbulent phase regarding trade under Trump, who has proposed imposing a 10% tariff on all imports and even higher tariffs on countries like China.




Comments (0)

    Greed and Fear Index

    Note: The data is for reference only.

    index illustration

    Greed

    63