A make-or-break meeting for the WTO
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 15 June 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
The World Trade Organization is facing a credibility crisis during its first meeting since 2017, the increased value of the US dollar is hurting American companies, and Ukraine lays out a weapons shopping list ahead of its meeting with western defence ministers today.
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Mentioned in this podcast:
The WTO’s lonely struggle to defend global trade
Rise in dollar to 20-year high costs US companies billions in earnings
Military briefing: which weapons has Ukraine received and how many more does it need?
Apple scores deal for Major League Soccer streaming rights worth $2.5bn
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk. |
| 0:09.8 | Good morning from the Financial Times. |
| 0:11.3 | Today is Wednesday, June 15th. |
| 0:13.4 | And this is your FT News Briefing. |
| 0:18.0 | The World Trade Organization is trying to prove it's still credible. |
| 0:21.2 | If it can't move forward in terms of reducing subsidies and easing trade flows, |
| 0:26.9 | then people ask, you know, what's the point of it? |
| 0:30.0 | The US dollar is strong, but that's actually a bad thing for American companies. |
| 0:34.9 | Plus, Ukraine is laying out a weapons wish list ahead of a meeting with Western nations. |
| 0:39.9 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:51.1 | The World Trade Organization has been responsible for basically accelerating globalization |
| 0:56.6 | for the past two and a half decades. |
| 0:58.5 | But as the group meets this week in Geneva, |
| 1:01.2 | it'll be under a cloud of possible D globalization. |
| 1:05.2 | The FT's Andy Bounds is in Geneva covering the WTO meeting now. |
| 1:09.6 | Hey Andy. |
| 1:10.4 | Hey Mark. |
| 1:11.3 | All right, so what are the stakes here? |
| 1:13.1 | Why is this such an important meeting for the WTO? |
| 1:16.3 | Yeah, so this is the first meeting of trade ministers together from these 164 countries. |
| 1:21.2 | Since 2017, that meeting broke up without agreements |
... |
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