According to the US Trade Representative, countries should use trade policies and trade enforcement actions to protect forests, since ‘forests are considered the lungs of the Earth.’
US Trade Representative Katherine Tai. (Source: agnetwest.com)
US Trade Representative Katherine Tai April 15 said international trade activities have prompted many countries to reduce environmental protection measures to attract investment, and regulations on global trade is necessary to prevent the “race to the bottom.”
“Race to the bottom” is a socio-economic term to describe the government’s deregulation of the business environment, or reduction of tax rates, in order to attract or maintain economic activity.
In her speech at the Center for American Progress, Ms. Tai said the notion that environmental problems are not part of trade ignores the fact that existing rules of globalization encourage less pressure. for environmental protection. This puts countries with higher environmental standards at a competitive disadvantage.
Speaking ahead of the online climate change summit on President Joe Biden’s initiative next week, Ms. Tai said she was committed to strengthening rules within the World Trade Organization (WTO). to combat problems like illegal fishing and overfishing.
According to her, countries should use commercial policies and trade enforcement actions to protect forests, because “forests are considered the lungs of the Earth.”
However, these regulations will be ineffective if they are not enforced. In the future, trade plays a role in preventing the “race to the bottom” and encouraging the “race to the top” (for the environment).
Ms. Tai noted that this is only done on a global scale through global regulations.
In the context that the world is deviating from meeting the goals of limiting global warming, many countries have signed in the Paris Agreement on Climate Change 2015, President Biden hopes next week’s summit will deliver stronger commitments ahead of the UN-hosted Climate Change Conference in Glasgow later this year.
Just days after taking office in January 2021, the US leader signed executive orders he said would “advance ambitious plans to respond to the threat of climate change.”
Mr. Biden announced that Washington will rejoin the Paris Agreement on climate change and is expected to announce an ambitious emission target by 2030./.
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