Mitt Romney on the WTO:
I realize that with the [World Trade Organization] there are many features that are not advantageous to us. It doesn't deal with manipulation of currencies as it should. It doesn't deal with protection of intellectual property as it should. We're treated unfairly relative to people with a Value Added Tax. And so we are going to have to establish either better rules at the WTO or launch what I call a Reagan Zone of Economic Freedom, invite other countries to trade with us, but they are going to have to abide by high standards and enforcement.
I understand the currency issue. And I understand the VAT issue. These are issues that have been raised a number of times by a number of people.
But I'm not sure I undersand his concern with intellectual property. Most criticisms of WTO IP rules suggest that they protect too much. I suppose that could be his concern, but somehow I think that's unlikely. The only thing I can figure is that he thinks the current rules are not effective enough in protecting U.S. IP abroad. Trying to strengthen WTO IP rules at this point in time could be a tough sell, though, I would think.
