WTO : DG issues modalities document for MC14, focusing on "reforms" (PRIV)
(D. Ravi Kanth, Yerevan)
The World Trade Organization's Director-General, Ms Ngozi Okonjo-Iweala, on 7 May sought responses from members to the document titled "Road to Yaounde MC14 - Possible Modalities, Substance and Way Forward", which seems to have been prepared under her own responsibility based on her consultations with members, said people familiar with the development.

Trade : UK agrees to 10% unilateral tariff by Trump administration (PRIV)
(D. Ravi Kanth, Yerevan)
United States President Donald Trump on 8 May touted the bilateral trade deal reached with the United Kingdom, while continuing with the 10% tariff on all British goods entering the American market, an agreement that seemingly creates a new normal in global trade by allegedly violating the global trade rules, said people familiar with the development.

UN : Higher cereal, meat & dairy quotations drive up global food prices (PRIV)
(Kanaga Raja, Penang)
World food commodity prices increased in April, driven by higher quotations for major cereals, meat and dairy products, according to the UN Food and Agriculture Organization (FAO).