Economic Affairs

America v WTO: The high costs of trashing trade rules

By not complying with the World Trade Organisation’s ruling on its metal tariffs, the US risks unravelling a rules-based global system to the detriment of all

A World Trade Organisation panel found that the steel and aluminium tariffs imposed by the US on some of its trading partners were discriminatory. PHOTO: AFP
New: Gift this subscriber-only story to your friends and family

In football, when the referee rules that a player has committed a foul and the player refuses to accept the decision, he gets a red card and is sent off.

But in world trade, it seems that when the global adjudicator calls out a country for having broken the rules of fair play and the country rejects the verdict, it can get away with no penalty and the game can go on as before.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.