The United States is blocking new judges to the body that interprets and enforces global trade rules. Australia should start preparing for the end of the World Trade Organisation system.
The Trump administration’s promise of $12 billion in aid to offset losses from retaliatory tariffs will not make up for the long-term consequences of a prolonged trade war.
An imminent court ruling by the European Union will decide the future of the economic partnership between Canada and the EU. It has broader implications for multilateralism in international trade.
With international trade facing its greatest threat in decades, this club of China, Brazil, Russia, South Africa and India will have much to say about it.
Canada recently slapped a tariff on US exports of the tomato-based condiment, and the EU plans to do the same, perhaps on the notion that it’s distinctly American. In fact, ketchup’s origins are global, as are its fans.
The motorcycle maker angered Trump after it said it plans to move some production overseas to avoid EU tariffs – just a few months after the president praised the company for being a ‘true American icon.’
Stephen J. Silvia, American University School of International Service
Trump has often talked about leaving the World Trade Organization. An economist explains what it is and what would happen if the president had his way.
International trade policy requires three traits to be successful and lead to mutual prosperity. Trump’s is missing all three, as he showed at the G-7 summit.
Bill Shorten has proposed tripling penalties for dumping cheap overseas products like steel into the Australian market. But this proposal suggests a failure to understand dumping and its regulation.