Director-General of the World Trade Organisation (WTO) reportedly said in a statement in Geneva that disrupting trade flows will jeopardise the global economy and he called for restraint and urgent dialogue as the best path forward to resolve these problems.
WTO Director-General Roberto Azevedo warned states that creating barriers to the international trade would jeopardise the global economy, saying at a time when economic recovery, though fragile, has been increasingly evident around the world, said media news report.
According to media news report, 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.
Reportedly China, meanwhile, warned the United States that it was not afraid of a trade war as it threatened tariffs on USD 3 billion worth US goods in retaliation over the US measures, said media news report.
-AENNS – 25/3/2018