WTO trade agreement fails over India's farmer subsidy concerns

|By:, SA News Editor

Negotiations over the World Trade Organization’s Trade Facilitation Agreement collapsed after it's midnight deadline passed without India's full agreement to the pact.

The deal's failure calls into question the ability of the WTO to serve as a forum for international accords as well as its status as an arbiter of trade disputes.

The WTO estimated that the deal would have added more than $1T to the world economy by reducing regulatory hurdles at international borders.