WTO chief warns on trade war

The Gold Coast Bulletin - - BUSINESS -

ALL coun­tries will lose in a global trade war, the head of the world’s trade ref­eree warned.

Un­der at­tack from US Pres­i­dent Don­ald Trump, the head of the World Trade Or­ga­ni­za­tion, Roberto Azevedo, ac­knowl­edged re­forms were needed, but re­jected crit­i­cism that trade was the main cause of job losses.

The Trump ad­min­is­tra­tion has ag­gres­sively im­posed puni­tive tar­iffs on trad­ing part­ners, es­pe­cially on China, with the goal of re­duc­ing the US trade deficit, Azevedo said that “we have to get away from the idea that trade is a zero-sum propo­si­tion.”

“It is not. Ev­ery­one can ben­e­fit,” he said. He wel­comed the US-China truce reached in Buenos Aires, and the com­mit­ment to reach a deal to defuse the con­flict be­tween the world’s two big­gest economies.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.