US Secretary of State signs Arms Trade Treaty

U.S. Secretary of State John Kerry signed the Arms Trade Treaty (ATT), which sets standards for conventional weapons deals; the total volume of the global arms market is estimated to be $70 billion. The official signing ceremony was held at the UN headquarters in New York. Before signing the document, Kerry announced that the ATT will \"reduce the risk that international transfers of conventional arms will be used to carry out the world\'s worst crimes. The treaty builds on decades of cooperative efforts to stem the international, illegal, and illicit trade in conventional weapons that benefits terrorists and rogue agents.” The ATT was adopted by the UN General Assembly April 3. 154 nations voted for it. Iran, North Korea and Syria opposed it. 23 countries, including Russia, abstained. 87 states, now including the U.S., have signed the treaty; only four ratified it. In order for the ATT to come into force 50 nations need to join it. U.S. may not ratify the document, as early April it became clear there the 2/3 of the congress vote for ratification was beyond reach.