WTO's Chief Urges More EU, South Korea, US Talks Instead of Dispute over IRA Concerns
The EU and South Korea should continue discussions with the U.S. over industrial subsidies rather than turn to the World Trade Organization's dispute settlement system, WTO Director-General Ngozi Okonjo-Iweala said during a Jan. 19 interview with Bloomberg TV. Speaking between events at the World Economic Forum in Davos, Switzerland, Okonjo-Iweala addressed the U.S. Inflation Reduction Act, which has sparked criticism from the EU over the bill's climate policies.
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"It’s far better for them to speak to the US and try to resolve this and see if there’s any way to take account of their concerns than to come to the dispute-settlement system of the WTO,” the director-general said, as quoted by Bloomberg. "That’s what we’re encouraging them to do and I think it’s working -- they are talking to each other."