Initiative to Waive TRIPS Protection for COVID-19 Vaccines

The United States will support an initiative of the World Trade Organization (WTO) to abandon Trade-Related Intellectual Property (TRIPS) protection for the COVID-19 vaccine.
Sheena

Updated: May 08, 2021 03:15:24 pm

08 May 2021 Current Affairs:The United States will support an initiative of the World Trade Organization (WTO) to abandon Trade-Related Intellectual Property (TRIPS) protection for the COVID-19 vaccine.

Highlights:
♦ It is an international legal arrangement between all of the World Trade Organization's (WTO) member countries.
♦ It sets minimum requirements for national governments to regulate various types of intellectual property (IP) as they apply to citizens of other WTO member countries.
♦ The World Trade Organization (WTO) administers TRIPS, which was signed at the end of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) in 1989 and 1990.
 
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