| The world’s trade ministers are struggling to resolve a standoff that could “break the internet”, with alarmed business groups warning that countries may start slapping customs duties on cross-border digital trade such as streaming, e-books and cloud services.
“I have never received so many letters from business associations all over the world as I have on this issue,” she said.“I hope ministers will have the courage to make the right decision in this critical area.” “Failing to renew the moratorium, as we have done for more than 20 years, would undermine the strength of the American economy, jobs, and innovation,” they told Ms Tai in their letter, reported by Reuters.
The opponents of the moratorium have argued that it disadvantages developing countries, and that they are losing revenue as more goods that used to be physical are now delivered digitally, such as books. “Success in the e-commerce negotiations will establish the first global digital trade rules among 86 participants, representing over 90 per cent of global trade,” Mr Farrell told ministers.