Trump On WTO

In the 25-odd years of this global trade order, there are now new losers and winners

India has sought consultations with the US under the WTO's safeguard agreement following American authorities' decision to impose tariffs on steel and aluminium, according to a WTO communication. On March 8, 2018, the US promulgated safeguard measures on certain steel and aluminium articles by imposing 25 per cent and 10 per cent ad valorem tariffs respectively. It came into effect from March 23, 2018. On February 10 this year, the US revised the safeguard measures on imports of steel and aluminium articles, effective from March 12, 2025, and with an unlimited duration, the communication said. It is being circulated at the request of the delegation of India. It added that notwithstanding the USA's characterisation of these measures as security measures, they are in essence safeguard measures. The US has failed to notify the WTO Committee on Safeguards under a provision of the Agreement on Safeguards (AoS) on taking a decision to apply safeguard measures. "Accordingly, as an affec

China posted the video after Donald Trump put an additional 34 per cent tariff on Chinese goods. The footage shows Reagan warning that businesses shut down as a result of imposing tariffs

WTO on Thursday said the measures announced by the United States will have substantial implications for world trade and economic growth prospects, and could lead to an overall contraction of around 1 per cent in global merchandise trade volumes this year. The statement by Director-General of the the World Trade Organization (WTO) Ngozi Okonjo-Iweala follows US decision to impose tariffs on nearly 60 countries. In a statement, Director-General of the the World Trade Organisation (WTO) Ngozi Okonjo-Iweala said the WTO Secretariat is closely monitoring and analysing measures announced by the United States on April 2. "Many members have reached out to us and we are actively engaging with them in response to their questions about the potential impact on their economies and the global trading system," she said, adding that the recent announcements will have substantial implications for global trade and economic growth prospects. "While the situation is rapidly evolving, our initial ...

Trump's new reciprocal tariffs raise concerns over WTO limits, trade law violations, and the future of global tariff rules

World leaders are increasingly questioning the relevance of major global institutions, including the UN, WHO, WTO, and climate summits such as the Paris Agreement, in a multipolar world

American President Donald Trump has announced imposing reciprocal tariffs on its major trading partners including China that levy higher import duties on goods shipped from the United States. He has already announced a 25 per cent duty on steel and aluminium imports, which will come into effect from March 12. While announcing the new tariff policy, the president has also spoken about how India is "right at the top of the pack" when it comes to tariffs. With all these countries being members of the global trade body World Trade Organisation (WTO), the decisions of the US may challenge the WTO principles. A list of Q & As (questions and answers) to explain the wider implications of the US move: Q. What is WTO? A. The 166-member Geneva-based WTO is a multilateral body which formulates rules for global trade and adjudicates disputes between the countries. Its main objective is to promote smooth, predictable and free flow of goods. Both India and the US have been members since ...

India should prepare for changing dynamics

The governments called on the World Trade Organization to beef up existing regulations, which they said in a statement are "insufficient to tackle market and trade distorting subsidisation

The appellate branch of the WTO's Dispute Settlement Body, sometimes called the supreme court of world trade, will stop functioning on Wednesday after years of relentless US opposition

Developing country status in the WTO allows governments longer timelines for implementing free trade commitments, as well as the ability to protect some domestic industry and maintain subsidies

Trump singled out China in a memo to U.S. Trade Representative Robert Lighthizer, saying that "the United States has never accepted China's claim to developing-country status"

Trump, who has previously criticized the WTO's dispute settlement system as being unfavourable to the US