The director-general of the WTO has said G20 countries must co-operate to ease global trade tensions after the trade coverage of import-restrictive measures hit what he called a “dramatic spike”. Roberto Azevedo said the rise in trade restrictions which had followed a stable trend since the financial crisis threatened uncertainty, reduced investment and lower trade growth. He told reporters that there was no need for protectionist measures, but added that they should be used only as last resort. We urgently need to see leadership from the G20 to ease trade tensions and follow through on their commitment to trade and to the rules-based international trading system.” The WTO Monitoring Report said G20 countries had introduced 20 new trade restrictions, less than in previous periods although involving much more trade and harsher tariffs.
The director-general of the WTO has said G20 countries must co-operate to ease global trade tensions after the trade coverage of import-restrictive measures hit what he called a “dramatic spike”. Roberto Azevedo said the rise in trade restrictions which had followed a stable trend since the financial crisis threatened uncertainty, reduced investment and lower trade growth. He told reporters that there was no need for protectionist measures, but added that they should be used only as last resort. The WTO Monitoring Report said G20 countries had introduced 20 new trade restrictions, less than in previous periods although involving much more trade and harsher tariffs.