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.
The U.S. and the EU have agreed to cut tariffs on certain goods, marking a critical de-escalation in transatlantic trade tensions.
Roberto Azevedo, director-general of the World Trade Organization, joins "Squawk Alley" to discuss trade disputes between the U.S. and China.
The WTO has been scarred by the United States' decision in December to block the appointment of two new members to the appellate body.
The change at the helm of the WTO comes at a time when many question the future of the organization as an advocate for international trade.
Hong Kong will likely remain an important gateway between mainland China and the rest of the world even though its economic growth contribution to China has diminished through the years.
While Germany has one of the highest numbers of coronavirus cases in Europe, its death rate is significantly lower than its neighbors. CNBC's Timothyna Duncan explores the strategies the country has employed to manage the spread of the disease.