Abstract
In order to make the world trade as free as possible, the World Trade Organization (WTO) relies upon principles. Firstly, the non-discrimination principle ensures that no country benefits more from trade than another country. The WTO wants to promote equality among the members. Moreover, the non-discrimination principle also ensures that a country does not differenciate between foreign and national products and services in applying taxes to foreign goods and services in order to make local products more competitive. However, there are some exceptions, notably for developing countries who are not obligated to follow the non-discrimination principle. Secondly, the members of the WTO have a transparency obligation. Indeed, they must publish and inform the WTO when they modify and add new laws or regulations about trade. Thirdly, the countries have to open their borders to facilitate the trade between members by lowering tariffs and non-tariff barriers to trade. To conclude on WTO principles, the organization wants to promote a more free world trade and avoid unfair competition. How can we identify and asses the economic benefits that might occur as a result of a successful conclusion to the current and recent trade negotiations at the WTO? How can we use economics to identify the beneficiaries of the current failure to reach agreement?
