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WTO flags rising trade barriers, says time to re-globalize
Mint Mumbai
|September 13, 2023
The World Trade Organization (WTO) on Tuesday flagged growing fragmentation in international trade with an overninefold increase in the number of trade concerns raised in just the last six years.
Trade concerns raised at WTO committees are seen as an early indicator of trade disputes.
The UN trade body cited unilateral measures like Indonesia's export restrictions on raw materials, China's restrictions on gallium and germanium exports, the European Union's Carbon Border Adjustment Mechanism (CBAM) and other EU Green Deal measures, and the US Inflation Reduction Act (IRA) as the chief concerns expressed by nations.
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