The trading system’s referee is about to leave the field - The twilight of the WTO - The Economist

Disputes are bound to get nastier

“... The wto’s appellate body is one of those institutions that most people have never heard of, but which will be missed when it is gone. Set up in 1995, it hears appeals over trade disputes and grants the right to limited retaliation where there has been wrongdoing. Some 164 countries and territories follow its rulings, and the body has prevented some of the nastiest rows from spiralling into outright tariff wars—for example, the epic spat between America and the European Union over subsidies for Boeing and Airbus. Since it was created, it has been the enforcer-of-last-resort for over 500 cases

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