Baku-APA.The World Trade Organization's (WTO) 12th trade policy review of the United States concluded here on Thursday, during which members of the global trade watch dog raised concerns over certain trade policies and practices of the world leading economy, APA reports quoting Xinhua.
Mariam Salleh, chairperson of the Trade Policy Review Body, said in her concluding remarks on Thursday that the U.S. was commended for its economic recovery and for maintaining open and transparent trade and investment regimes.
Morever, she noted that "as the U.S. had refrained from introducing protectionist measures in the period after the global financial crisis, yet long-standing barriers in certain sectors remained a hindrance to trade."
It was introduced that the U.S. received over 1600 questions with this review which were submitted in advance concerning its trade policies and practices.
WTO members, both in their advanced questions and during the two-day review, listed major issues for the U.S. to take action.
Being the world's major exporter of agricultural products, its elimination of price support and export subsidies for dairy products after a new Farm Bill adopted in February this year was welcomed by many members, meanwhile they were concerned about its moving away from direct payments to farmers towards new trade and production distorting programs of domestic support.
Concerns also raised about the significant increase in anti-dumping and countervailing measures investigations launched by Washington in the past two years, in addition to the significant trend in continued renewal of duties imposed after sunset reviews, often resulting in the trade remedies being applied for decades.
The U.S. was also requested to address its tariff peaks which were often applied on products of interest to developing countries, including agriculture, textiles and apparel, and tobacco.
Members also raised issues with the on-going reforms of the financial sector, visas for foreign professionals, healthcare reform and health insurance portability.
As a vital player in the multilateral trading system, the U.S. was questioned how did its bilateral and regional trade liberalization initiatives fit into the multilateral system, and was also encouraged to timely implement WTO's Dispute Settlement Body's (DSB) panel outcomes.
Trade policy reviews are an exercise mandated in WTO agreements, in which member's trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored.
All WTO members are subject to review, with the frequency of review depending on the economy's size. The United States, China, the European Union and Japan are reviewed every two years.
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