WTO members applied 75 new trade measures from 2017 to mid-May 2018: Report

Members of the World Trade Organization (WTO) have applied as many as 75 new trade restrictive measures such as increases in import duties and stricter customs regulations from mid-October 2017 to mid-May 2018.

There are 164 members of the Geneva-based global trade rule-making body WTO, including India, China, the US and the UK.

This is "amounting to a monthly average of almost 11 new measures per month. This is higher compared to the average of nine measures recorded in the previous report," according to the WTO Director-General's mid-year report on trade-related developments.

WTO DG Roberto Azevedo said the number reflects that "we are heading in the wrong direction, and we seem to be speeding up".

Growth, jobs and recovery are at stake, he said, adding, "I call on members to recognize the gravity of this report and its findings. We need to see immediate steps which de-escalate the situation".

The new trade-restrictive measures includes tariff increases, quantitative restrictions, imposition of import taxes and stricter customs regulations.

It also said that WTO members implemented 89 measures aimed at facilitating trade during the review period.

These measures include elimination or reduction of tariffs, simplified customs procedures, reduction of import taxes and elimination of import bans.

"At almost 13 trade-facilitating measures per month, this is an increase compared to the average of 11 measures recorded for the previous review period," it said.