1537 GMT - The European Union is looking to reform the World Trade Organization's "most favored nation" principle in which members treat each other as equal trade partners. "We need a frank discussion on the link between MFN status and reciprocity, taking into account members' actual levels of market openness, their commitment to fair competition and transparency, and their evolving weight in global trade," he wrote in the Financial Times. Lower market barriers must be earned through stronger, credible commitments to the principles of free and fair trade, he writes. His comments, which also ask for a reform of governance and decisionmaking at the WTO, come ahead of trade ministers meeting at Davos amid a debate on U.S. tariff threats against allies over the ownership of Greenland. (edward.frankl@wsj.com)

(END) Dow Jones Newswires

January 21, 2026 10:37 ET (15:37 GMT)

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