The World Trade Organization's 164 members approved a series of trade agreements including commitments on fish and pledges on health and food security.
Joshua Meltzer of Brookings Institution says "we're not in a world of multilateral gains."
Calls to waive the patents on mRNA Covid vaccines have gained traction globally, but experts seriously doubt that they will ever come to be.
The collaboration necessary to create a vaccine at record speed could lead to legal battles over the parties involved in inventing the COVID vaccine. The outcome could yet again change the course of the pandemic.
Richer nations have hoarded the highest number of Covid shots, while many low-income nations have struggled to get their hands on the much-needed vaccines.
China is Australia's biggest trading partner. However, the once-strong trade relationship between Australia and China has deteriorated, leading China to 'indefinitely' suspend economic dialogue in May 2021. So, why did this once prosperous economic relationship break down? CNBC's Timothyna Duncan is joined by Will Koulouris to explore the nations' history as trade partners and what the riff means for the future of global trade.
The landmark proposal, which was jointly submitted by India and South Africa in October, has been backed by more than 100 mostly developing countries
Ngozi Okonjo-Iweala has been appointed the new chief of the World Trade Organization, becoming the first woman and African to ever lead the institution.
The United States on Monday blocked a decision by Hong Kong to escalate a Trump-era trade disagreement at the World Trade Organization.
Many countries have gone to the World Health Organization requesting compulsory licensing of Covid-19 vaccine patents from drug makers to fight shortages.
Myron Brilliant from the U.S. Chamber of Commerce says the new administration needs to resume leadership in global institutions and reset relations with China.
The new duties come after the U.S. government failed to resolve a 16-year dispute over aircraft subsidies with the European Union.
China could also really hurt its own economy and environmental sustainability by imposing trade tariffs on Australia, says Tim Harcourt of the University of New South Wales.
Australia intends to go ahead with engaging the World Trade Organization to arbitrate its trade dispute with China, says David Littleproud, Australia's agriculture minister.
Australia's prime minister said any shift by China away from high quality Australian coal imports is a "lose-lose" for the environment and trading relationship.
If confirmed, Tai will play a key role in rebuilding ties with allies, reenergizing manufacturing at home and punishing Beijing for its trade practices.
Australia and China should also go through the World Trade Organization to resolve their disputes objectively, says Craig Emerson, managing director of Emerson Economics and former Australian trade minister.
The job is a key role as Biden pledges to reverse Trump's "America First" policies, build jobs at home, and punish Beijing for anti-competitive trade practices.
The World Trade Organization has authorized the European Union to impose tariffs on U.S. goods worth $4 billion.
William Reinsch of CSIS says the World Trade Organization has been "left in the lurch" in the middle of a crisis, as he discusses the leadership vacuum at the group following the resignation of Roberto Azevedo as Director-General.