Why it's vital to protect the WTO

Global trade is under threat. Whether or not you call the current situation a trade war, certainly the first shots have been fired. This calls for our attention, and most importantly, our action.

World Trade Organisation (WTO) data shows a marked escalation of trade restrictive-measures over the past six months. A number of import-facilitating measures were also recorded during the same period, but crucially, the value of trade covered by these measures is falling, whereas the coverage of the restrictive measures is rising rapidly. These can include tariffs, quotas and stricter Customs regulations.

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A version of this article appeared in the print edition of The Straits Times on August 09, 2018, with the headline 'Why it's vital to protect the WTO'. Print Edition | Subscribe