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WTO chief warns against historic mistake

The world trade organisation (WTO) warns the governments in the face of punitive tariffs and other trade barriers before a "historic mistake". According to the WTO of the world trade in 2019 will increase, given the many uncertainties, is less than the last time.

to weaken The particular rules-based trade system, "would be a historic mistake – with implications for Jobs, growth and stability around the world," said WTO chief Roberto Azevedo in Geneva on Tuesday at the presentation of the world trade Outlook.

The organization anticipates a growth of the global trade volume of 2.6 percent, after an increase of three percent in the past year. Most recently, the WTO was expected to world trade growth of 3.7 percent for this year. For 2020 expect an increase of three percent.

"the Economic uncertainties,"

"The world trade will be felt in 2019 and 2020, more strong against the wind, after he has already grown to 2018, owing to rising trade tensions and increased economic uncertainties, less than expected", it says in the WTO report. A continuation of the trade disputes mean on the one hand, the greatest risk that a relaxation in this area, but could also provide for a positive development.

China and the United States had been working with recently, their trade dispute. Both countries have covered each other with special duties, so that now about half of all US imports from China is burdened with additional duties. The USA is threatening, but with new punitive tariffs, if there is no agreement.

tension

be solved "It is urgently necessary that we resolve the tensions and focus to lead the world's trade on a positive path, which is a response to the real current challenges – how of the technological Revolution and the creation of jobs," said WTO Director-General Azevedo.

in the face of so many uncertainties in the world trade could not develop its role as a growth driver. The greater the uncertainties were the lower investment and consumption, warned Azevedo.

in 2018, and the turn of the year were affected negatively by temporary shocks, such as the longest closure of the U.S. authorities ("Shutdown") and also the production problems in the German car industry. (ij/sda)

Created: 02.04.2019, 14:43 PM

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