The president’s argument is spurring the first efforts to address what major members concede is a need for change.
The heads of the IMF, OECD, World Bank and WTO made a joint call for the world to resist a rising tide of U.S.-led protectionism and return to the path of liberalization that had lifted millions out of poverty.
International Monetary Fund (IMF) managing director Christine Lagarde has urged countries to revise rules in a bid to de-escalate rising trade tensions.
The International Chamber of Commerce (ICC), supported by the World Trade Organization (WTO), the Organisation for Economic Co-operation and Development (OECD) and regional development banks, have announced a new initiative to host a global consultation to support multilateral trade reform.
A new World Trade Organization report sees strong potential in blockchain technology and cryptocurrencies to facilitate trade.
Escalating trade tensions and tighter credit market conditions in important markets would moderate the growth of global merchandise trade to 3.7% in 2019 from 3.9% in 2018, the World Trade Organization (WTO) had said.