Does the idea of global free trade have a future if countries are seeking to erect trade barriers? Donald Trump says the World Trade Organization is a disaster, while others stress its importance. DW has an exclusive report straight from the WTO.
Since helping shape the General Agreement on Trade and Tariffs (GATT) in 1948, the World Trade Organization's forerunner, the US has been at the forefront of trade liberalization. That era appears to be ending.
Chinese officials condemned US punitive tariffs, threatening that it could launch "the biggest trade war in history." Beijing plans to bring the trade dispute to the World Trade Organization.
The WTO chief warned that the trade dispute with was risking loss of investment, jobs, and economic chaos in the US. "We are calling everyone who believes that trade is a force for good to speak up," he said.
The trade conflicts between the US and several of its biggest partners are escalating. Among those wary of the consequences are American companies and thousands are scrambling to be made exempt from certain tariffs.
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