WTO chief warns US bilateral tariff deals could put trade principle at risk

WTO chief warns US bilateral tariff deals could put trade principle at risk

Comments from Ngozi Okonjo-Iweala highlight concern that pacts may undermine ‘most favoured nation’ equality concept

WTO wants reform to security exemption used to justify tariffs

TOKYO -- The head of the World Trade Organization has called on member states to negotiate "a more careful definition" of the national security exempt

Okonjo-Iweala: US-UK Trade Deals Could Undermine Global Trade Equality - Newsmakers

Femi Ashekun/ World Trade Organisation (WTO) Director-General, Ngozi Okonjo-Iweala, has raised alarms over the growing trend of bilateral tariff agreements, warning they could weaken the principle of equality that underpins global trade. Speaking to the Financial Times after a visit to Tokyo, Okonjo-Iweala described global trade as being in a “crisis,” even as tensions between […] The post Okonjo-Iweala: US-UK Trade Deals Could Undermine Global …

In an interview with Nikkei Asia, Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, mentioned that he hopes to carry out two reforms: one is to define the status of "developing countries" of member countries, and the other is to determine the scope of "national security exceptions".

Border tariffs are taxes imposed by Governments on imported products with the aim of protecting domestic industry, generating revenue or influencing trade policy. However, these measures have important implications for international law, as they may conflict with fundamental agreements and principles of global trade. One of the main effects of tariffs on the international arena is their impact on the principle of free trade, promoted by organiza…

WTO Director-General Ngozi Okonjo-Iweala said the current "crisis" in the dispute settlement system "presents an opportunity" as the organization can now address fundamental problems