Sina US stocks, December 5 — World Trade Organization (WTO) members agreed to a preliminary 2020 budget agreement on Thursday, avoiding a shutdown on January 1, 2020.
“We are making a comeback,” said Dagfinn Sorli, chairman of the WTO Budget, Finance and Administration Committee in an interview.
The US previously threatened to stop the WTO budget because it believed that the WTO Appeals Panel had exceeded its powers and needed to be reformed. The new funding package will meet US demand and cut off funding for the appellate body.
The measure is expected to receive final approval at the WTO Council meeting scheduled for December 9-11.