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WTO's Fate?

The World Trade Organisation is exactly as it says an international organization that overseas global policies regarding trade. The WTO’s was created as a way to ensure that all countries could be equally represented and treated fairly in the global trading community no matter how large or small the nation is. But now that the United States is blatantly disregarding the recent WTO ruling regarding online casino gambling in the U.S., the WTO could loose all of its international power. The WTO is currently beginning a process of compensation assessment to all of the countries claiming the U.S. recent legislation to block all foreign based online casinos and gambling companies caused substantial harm to the nation.

The process is ongoing and lengthy with the WTO and the U.S. in what amounts to a ping-pong match as they throw back and forth solutions and reactions to the current online casino based issue. But it boils down to this: if the WTO makes a firm, legally binding ruling for compensation and the U.S. does not pay up – what good is the WTO at that point?

The WTO currently has close to 40 claims for compensation, and as the deadline drew closer, more nations decided to join the request for compensation from the U.S. The final list of nations seeking compensation:

Antigua
Barbuda
Brazil
China
Japan
India
Costa Rica
Mexico
China Taipei
All European Union Nations

Now that the final tally is in, it looks as though the U.S. is more agreeable toward resolution with Antigua and Barbuda – especially considering the nations claimed over $3 billion in annual compensation. Antigua has also expressed extreme frustration with the U.S.’s lack of compliance with threats to U.S. copyrights and trademarks that could wreak havoc with the U.S. economy if the country does go through with the threats. But that does not mean that the U.S. is agreeable to compensating all of the nations making online casino compensation claims, and has in fact announced that it will fight all the other countries’ claims.

So far it looks like the WTO is standing firm against the U.S. tactics to side-step rulings and decisions, but it will ultimately come down to whether or not the U.S. decides to abide by the WTO’s power. And to think, all because the United States will not agree to license and regulate the industry.