Panama challenged eight of the retaliatory measures imposed by Argentina against countries designated as “non-cooperating” under Argentina’s Decree No. 589/2013. A World Trade Organization dispute settlement panel ultimately held that Argentina’s measures are inconsistent with its WTO obligations under the General Agreement on Trade in Services. Among other reasons, the decision is significant because it is the first time that a WTO panel has analyzed the exception from non-discrimination commitments for prudential measures regulating financial services.

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