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GENEVA (Reuters) - The supreme court of world trade is close to breakdown after the United States turned down a last-ditch petition to reappoint one of the four remaining judges at the World Trade Organization. U.S. President Donald Trump has railed against the WTO judges, who have the final say on trade disputes. His ambassador in Geneva has accused them of overstepping their authority, breaking their own rules and interfering in U.S. laws. Three judges are needed for each case and all 164 WTO members must comply with their rulings. The WTO normally has seven judges but after a U.S. campaign to block appointments and reappointments only four remained.
Wednesday’s meeting of the WTO’s dispute settlement body was the last chance of reprieve for Shree Baboo Chekitan Servansing, a trade judge from Mauritius, before his term expires on Sept, 30, U.S, officials told last month’s meeting they would block Servansing but some diplomats had hoped that offers to amend the judges’ procedures and other reforms might be enough to persuade how to wear cufflinks double cuff Trump’s trade negotiators, Almost 70 countries have repeatedly petitioned the United States to let the appointments go ahead, But a U.S, official again turned down their plea at WTO headquarters in Geneva..
“As we have explained in prior meetings, we are not in a position to support the proposed decision,” a U.S. official said, according to a transcript of prepared remarks. “The systemic concerns that we have identified remain unaddressed.”. Servansing declined to comment. The WTO is presiding over a record number of disputes, many of them triggered by Trump’s tariffs on steel and aluminum and his trade war with China. Trade officials say the lack of judges plunges the organization into crisis because if one of the three remaining judges has to recuse themselves from a case for legal reasons, the system will break down.
NEW YORK (Reuters) - British Prime Minister Theresa May was reminded of how worried businesses are about Brexit on Wednesday when a rallying speech to executives in New York was met with a single stark question from the floor how to wear cufflinks double cuff - just how bad can things get?, May assured her audience that Britain would flourish after Brexit and remain an attractive place to invest, seeking to ease concerns about the country’s future after it leaves the European Union next March, She said she was confident that Britain would be able to achieve a good deal with the EU over its future trading relationship..
But in a question and answer session following her speech, Stephen Schwarzman, chief executive of private equity firm Blackstone Group (BX.N), asked May to confront the downside risks to Britain’s EU exit. “I guess we are believers,” said Schwarzman whose firm was part of a joint venture that agreed to buy up the commercial property portfolio of Britain’s rail network owner for $1.9 billion. “But on the other side, things could really go off with a bad Brexit and ultimately a change of government. What we really worry about is how bad things can get?”.
In response, May said: “I absolutely appreciate and understand from that – you’re making decisions and looking ahead to what the future holds, And at the moment there is that uncertainty about what the future will hold in terms of Brexit.”, She pledged Britain would make a success of Brexit whatever the outcome of negotiations, Earlier, IBM boss Ginni Rometty asked May on stage how she suggested businesses should manage the risks how to wear cufflinks double cuff of Brexit, “If you were us ., what would you do in our shoes to be planning right now, What would you do now to balance that risk?”..
PRO-BUSINESS. May’s Brexit proposals were savaged by EU leaders at a summit last week and many in her own party have criticised her approach, raising prospects that she will fail to strike any agreement and that Britain could leave without a deal, something business leaders fear would be hugely damaging. “We’re at the point of the negotiations where we’ve got a few weeks to go,” May said. “We don’t know where the negotiations will end. I’m confident about getting a deal but we have to make sure we’re prepared for any eventuality.”.
In her speech, May said she would not abandon her current Brexit plan, shrugging off criticism at home and in Brussels, She said her proposal to keep a close trading relationship with the EU on goods, protect manufacturing jobs and resolve arguments over the borders of Northern Ireland, while ending unrestricted immigration from the EU, was the only way forward, However, with many of her own lawmakers and the opposition Labour Party saying they will vote against such a deal in parliament, there are major doubts over how to wear cufflinks double cuff the final outcome of negotiations and May’s long term future as leader..