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The Third WTO Ministerial Conference will address whether to hold a new round of trade talks over the next three to four years, and what to put on the agenda. Possibilities include timber, fish, labor rights and the environment.
The WTO's overall responsibility in the world arena includes governing what trade can be blocked (and for what reasons) and what trade can be taxed (and by how much). When one country charges that another has broken a trade agreement, the WTO can set up a three-judge tribunal to settle the dispute. The losing country must change its law or be slapped with tariffs by the complaining country.
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