The World Trade Organization(WTO) chief has warned states that creating barriers to international trade would “jeopardise the global economy”.
WTO Director-General Roberto Azevedo said in a statement in Geneva today that disrupting trade flows will jeopardise the global economy at a time when economic recovery, though fragile, has been increasingly evident around the world. He called for restraint and urgent dialogue as the best path forward to resolve these problems.
US President Donald Trump on Thursday slapped steep tariffs on Chinese imports, heightening fears of a trade war between the world’s two largest economies.Washington also launched today a challenge before the WTO’s Dispute Settlement Body (DSB) against China over intellectual property breaches.
China, meanwhile, warned the United States that it was “not afraid of a trade war” as it threatened tariffs on USD 3 billion worth of US goods in retaliation over the US measures.