Former US Secretary Kerry calls for new trade rules, cooperation with China on climate By Reuters

By Georgina McCartney

HOUSTON (Reuters) – Former U.S. Secretary of State John Kerry on Wednesday called for a new look at global trade rules, calling the existing mediator of trade disputes, the World Trade Organization, “castrated.”

Kerry, who resigned as President Joe Biden’s climate envoy earlier this year, also called for cooperation with China on climate in wide-ranging comments on trade, tariffs and the energy transition away from fossil fuels at the Gastech conference on energy from houston.

“We need an understanding among nations, which China and the U.S. could help lead, on fair processes within the world’s trade structure,” Kerry said.

The Geneva-based WTO “has become somewhat neutered, I think it’s fair to say,” he added.

The former Biden campaign worker disputed the growing use of tariffs on Chinese imports, which Biden and former President Donald Trump relied on to rebuild American industry and encourage clean energy businesses such as solar panels, batteries and electric cars.

“I’m not good at rates at all. I think historically, tariffs have proven to be very problematic for the market and for countries,” Kerry said. “I believe more in creating incentives for the things you want to do.”

Nations must find a way to cooperate with China on climate, even as trade disputes grow, he said.

“I support working with China on climate because China accounts for 30 percent of all emissions on the planet and is now the largest producer of some of these (energy transition) technologies.

U.S. lawmakers and regulators need to address the permitting of clean energy projects, which have been stalled by long review periods and repeated challenges.

“We have some roadblocks – political and regulatory – and one of them is permitting, you can’t take 10 years to allow these things, we don’t have that kind of time,” he said. “No one else is going to sit back and wait for us to act.”