Tag: wto

BUSINESS

U.S. vs. China — WTO Rules

The World Trade Organization (WTO) has ruled that tariffs the U.S. imposed on Chinese goods in 2018, triggering a trade war, were inconsistent with international trade rules. The WTO said the U.S. did not provide sufficient evidence to support its assertions that China’s unfair technology theft and state aid justified the imposed border taxes. Chinese officials welcomed the ruling. The […]

NEWS

Trump — “I’m Not A Big Fan Of The WTO”

The World Trade Organization (WTO) has ruled that the U.S. administration’s tariffs on Chinese goods in 2018 were not consistent with international trade rules. The WTO said the U.S. did not provide evidence that its claims of China’s unfair technology theft and state aid justified the border taxes. However, this has not gone down well with U.S. President Donald Trump. […]

NEWS

WTO — Bleak Outlook

The World Trade Organization, Director-General Roberto Azevêdo, said, “the global economy is in its worst downturn since the 1930s.” He opined that economists had painted a grim picture of the economy for the rest of the year. “Their forecast for 2020 estimates that the volume of global merchandise trade will tumble by between 13 and 32 percent compared to the […]

NEWS

WTO Expects Massive Decline In Global Trade

According to the World Trade Organization (WTO), global trade will see a decline of 13 to 32 percent this year as a result of the COVID-19 pandemic. The international organization in a report argues that global trade tensions have led to a 3.2% decline in air cargo volumes in 2019, and current estimates indicate a worsening situation in 2020. Meanwhile, […]