By Georgina McCartney
HOUSTON (Multibagger) - Former U.S. Secretary of State John Kerry called for a reevaluation of global trade rules, criticizing the World Trade Organization as "neutered." Kerry, who recently served as President Joe Biden's climate envoy, emphasized the need for cooperation with China on climate issues during his speech at the Gastech energy conference in Houston.
Kerry highlighted the importance of fair processes within the world's trading structure, which he believes China and the U.S. can lead. He expressed concern over the diminished effectiveness of the Geneva-based WTO, stating that it has become "somewhat neutered."
The former Biden campaign worker expressed his disapproval of the escalating use of tariffs on Chinese imports by both Biden and former President Donald Trump. Kerry emphasized the negative impact of tariffs on the marketplace and countries, advocating instead for creating incentives for desired activities.
Despite growing trade disputes, Kerry stressed the necessity of collaborating with China on climate initiatives. With China accounting for 30% of global emissions and being a major producer of energy transition technologies, Kerry emphasized the importance of working together on climate goals.
Addressing the challenges faced by clean energy projects in the U.S., Kerry called for lawmakers and regulators to streamline permitting processes. He highlighted the need to overcome political and regulatory obstacles that have resulted in lengthy review periods for clean energy projects.
In summary, John Kerry's remarks at the Gastech energy conference underscore the importance of reevaluating global trade rules, promoting cooperation with China on climate, and addressing challenges in clean energy project permitting processes.