The World Trade Organization — the international body that makes and looks after the rules for trade between countries. Most of the world's countries are members. Two things it does matter most. First, it sets rules the members agree to follow, such as limits on the taxes (tariffs) a country can put on goods coming in, and a promise to treat goods from all member countries by the same standard. Second, it settles arguments: when country A believes country B is breaking the rules, the case goes to the WTO, and if A wins, A may be allowed to hit back with taxes of its own. It grew out of an older agreement called GATT and began in 1995, with its offices in Geneva, Switzerland. In English you almost always say 'the WTO', with 'the', and you say the three letters separately. In news writing it is often used as a noun standing for the whole rule-system: 'WTO rules', 'a WTO ruling', 'to join the WTO'. This is a live topic in Taiwan, because Taiwan is a member — it joined in 2002, under the name 'Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu', usually shortened in the press to Chinese Taipei. That is worth knowing, because it explains why Taiwanese news uses the name so often. Note also that the organization has grown weaker in recent years, as its dispute-settling body has been unable to work fully; you will see this discussed in the news.