US, China Face Off Over Digital-Market Regulation

World Trade Organization members launched talks on how to govern global digital commerce, for the first time tackling 21st century trade issues that have sparked intense rivalry among the US, Europe and China. At stake is a global framework to regulate digital trade in goods and services, a market that is currently subject to a patchwork of different rules. Such a system would potentially remove obstacles such as cross-border sales barriers that disrupt access to services and hinder growth in online trade, enabling small companies to access global markets and helping giants tap a bigger market.