Trade policy within the context of the World Trade Organization

This study looks at the main obligations arising from the World Trade Organization and their repercussions on the design of trade policy. First of all, the study analyses the content of the world trade system and the problems it raises, and highlights the fact that, as the number of questions considered expands and an ever-increasing number of policies are brought under international scrutiny, the delicate balance between trade policy and negotiations must be adjusted more and more exactly. It is pointed out that the commitments entered into within the context of the WTO indicate the direction but not the depth of trade reforms in Latin America. Closer analysis of the obligations arising from the WTO shows that they offer substantial leeway.