In The News

Reuters: “Existential Crisis” at WTO

Tom Miles October 24, 2018
The World Trade Organization plans reforms after the United States has blocked appointments and threatened withdrawal. “At stake is the effectiveness - even the survival - of a key stabilizing force in the global economy,” reports Tom Miles for Reuters. “Since its founding in 1995, the WTO has stopped governments from arbitrarily raising trade barriers and disrupting the flow of goods.” The WTO...

Project Syndicate: Global Trade System Could Break Down

Anne O. Krueger September 20, 2018
The global rules-based trading system promotes global security. After World War II, the United States led in creating the World Trade Organization, which has contributed to global economic growth, contends economist Anne O. Krueger. Yet the Trump administration is “trying to undermine the institution both in letter and in spirit.” She explains WTO rules: “international trading firms are subject...

The Economist: How to Rescue the WTO

July 26, 2018
The World Trade Organization, long dependent on US trade policy, now struggles to intervene in the current trade war with China. The WTO is forced to remain a bystander as the United States blocks nominations to seats to the dispute settlement board even as the number of trade disputes rise. Another ongoing challenge is China’s distortion of trade through mercantilism, state-owned firms and...

Spiegel: WTO Faces Existential Threat

Martin Hesse July 19, 2018
Free trade adds efficiency to the world’s marketplaces. The WTO’s 164 members make decisions by consensus with the goal of leveling “the playing field between strong and weak countries, between industrialized and developing economies, with the goal of increasing prosperity for all,” reports Martin Hesse for Spiegel Online, but the organization has become less relevant as countries pursue...

RSIS: Trump’s Protectionism

Linda Lim March 21, 2018
The Trump administration adopts a protectionist stance, contending that the United States is not treated fairly in trade agreements. Protectionism is harmful for economies, and critics are many, inside the United States and beyond, for the US tariffs on aluminum, steel, solar panels and more. Yet politicians often rely on protectionist messages that appeal to the working class, increasing voter...

CNN: US Tariffs on Steel Would Hit China and Entire Global Trading System

Julia Horowitz February 19, 2018
The Trump administration, after complaining about China’s low prices for steel, has a deadline of April 11 for deciding on new steel tariffs. “However, China is not the top country from which the United States imports steel,” explains Julia Horowitz for CNN. “The United States imports most of its steel – 16% – from Canada. It imports 13% from Brazil, 10% from South Korea, 9% from Mexico and 9%...

Caixin: China to Roll Out Red Carpet for Foreign Financial Firms

Peng Qinqin, Wu Hongyuran, Zhang Yu, Yang Qiaoling and Han Wei November 21, 2017
China may do more to open its financial industry to foreign investors, lifting ownership caps for banks as well as securities, funds, and futures industries, according to a team from Caixin. “Sixteen years after China agreed to liberalize foreign access to its financial sector as part of its World Trade Organization accession commitments, overseas investors still complain about barriers...