WTO Worried About Trade Wars Resulting from Trump Tariffs

Dan Industry News Release, Trade

The head of the World Trade Organization (WTO) is concerned about President Donald Trump’s plans to impose a tariff on both steel and aluminum imports into America.

wtoDirector General Roberto Azevedo says a trade war is in no one’s best interests. “The WTO is concerned about the U.S. plans for tariffs on steel and aluminum,” he says, “and the potential for escalation is real, as we have seen in the responses of others.” He says the World Trade Organization will be watching the developments closely.

Trump didn’t specify in his announcement which countries the tariffs would apply to. However, it did trigger an outcry from U.S. allies like Canada, the European Union, Mexico, and Australia, as well as China, the world’s biggest steel supplier.

The Express Tribune Dot Com says Trump and his staff have portrayed the WTO as a broken organization. Azevedo has responded to those statements with caution, saying he’s willing to work with U.S. officials to alleviate whatever their concerns are. His decision to condemn a policy move like this doesn’t happen very often, which means Azevedo is clearly concerned about the situation.

From the National Association of Farm Broadcasting News Service.