Current:Home > FinanceWTO chief insists trade body remains relevant as tariff-wielding Trump makes a run at White House -ProfitEdge
WTO chief insists trade body remains relevant as tariff-wielding Trump makes a run at White House
View
Date:2025-04-16 16:44:43
GENEVA (AP) — The head of the World Trade Organization insisted Friday that it remains relevant and its leaders focus on reform “no matter who comes into power” as Donald Trump — who as U.S. president bypassed WTO rules by slapping tariffs on America’s friends and foes alike — makes another run at the White House.
WTO Director-General Ngozi Okonjo-Iweala said it “really bugs me” when the Geneva trade body is depicted in the press as seemingly irrelevant — a claim based around the fact that its system of resolving trade disputes is gummed up.
“It’s like the air you breathe: You take it for granted because you don’t see it every day,” she told reporters at WTO headquarters. The organization will host trade ministers and other officials from its 164 member countries in Abu Dhabi from Feb. 26-29.
“People don’t realize that they’re taking for granted that 75% of world trade is taking place on WTO terms,” she said.
Okonjo-Iweala drew plaudits for rallying member countries at the last big gathering in Geneva two years ago by shepherding through agreements to boost production of COVID-19 vaccines in developing countries and banning government subsidies for fishing of some species, like bluefin tuna, that are overfished.
In Abu Dhabi, countries will discuss a “Fish 2” deal to ban subsidies that contribute to too many boats — or overfishing in general. Agriculture will be on the agenda, too, as will a call to extend a pause on duties on goods in digital form, like music and movies.
Overall, the WTO has been back on its back foot in recent years: The United States under the past three administrations has blocked appointments to its appeals court, and it’s no longer operating. Washington says the judges have overstepped their authority too often in ruling on cases.
Trump, who once threatened to pull the United States out of the WTO, ignored its rules by using tariffs — or taxes on imported goods — as a punitive tool against friendly countries in the European Union, Canada, Mexico and others, but especially China.
Okonjo-Iweala, who has both Nigerian and American citizenship, said the world is facing uneven challenges: An economic slowdown has hit some countries like Britain and Japan, while the U.S. economy seems alone to be “going gangbusters.” And at the same time, farmers from India to Europe have held massive protests. It has created a “tough environment” for deals in Abu Dhabi at the end of the month.
Elections in dozens of countries this year make for a tricky political backdrop — including the United States, which she called a “very consequential country” — without mentioning Trump by name.
“What we are focused on at the WTO are what are the appropriate reforms we need to do - no matter who comes into power, when,” she said, insisting that the trade body remains relevant. ”if we get to what you’re saying — that the WTO becomes irrelevant — everyone, including you and me, will be in trouble.”
Trade wars, she said, affect both international trade flows and the countries that engage in them.
“I think that the way we cope with the world and build resilience is to focus on delivering those reforms,” Okonjo-Iweala said. “The best we can do is to demonstrate why ... continuing to follow WTO rules is the best thing for the world.”
veryGood! (36)
Related
- Former longtime South Carolina congressman John Spratt dies at 82
- Pregnant Kourtney Kardashian Is Officially Hitting the Road as a Barker
- Inside Clean Energy: Taking Stock of the Energy Storage Boom Happening Right Now
- Forecasters Tap High-Tech Tools as US Warns of Another Unusually Active Hurricane Season
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- Natural Gas Samples Taken from Boston-Area Homes Contained Numerous Toxic Compounds, a New Harvard Study Finds
- The Chevy Bolt, GM's popular electric vehicle, is on its way out
- SVB, now First Republic: How it all started
- $73.5M beach replenishment project starts in January at Jersey Shore
- Tucker Carlson Built An Audience For Conspiracies At Fox. Where Does It Go Now?
Ranking
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- Analysis: Fashion Industry Efforts to Verify Sustainability Make ‘Greenwashing’ Easier
- NBCUniversal CEO Jeff Shell fired after CNBC anchor alleges sexual harassment
- Sue Johanson, Sunday Night Sex Show Host, Dead at 93
- Global Warming Set the Stage for Los Angeles Fires
- Bud Light sales dip after trans promotion, but such boycotts are often short-lived
- California Water Regulators Still Haven’t Considered the Growing Body of Research on the Risks of Oil Field Wastewater
- SpaceX wants this supersized rocket to fly. But will investors send it to the Moon?
Recommendation
California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
With Biden in Europe Promising to Expedite U.S. LNG Exports, Environmentalists on the Gulf Coast Say, Not So Fast
The path to Bed Bath & Beyond's downfall
How Tucker Carlson took fringe conspiracy theories to a mass audience
Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
Who Olivia Rodrigo Fans Think Her New Song Vampire Is Really About
Khloe Kardashian Says She Hates Being in Her 30s After Celebrating 39th Birthday
North Carolina Hurricanes Linked to Increases in Gastrointestinal Illnesses in Marginalized Communities