We are about to go from having rules that overreached to having few rules. The US, China and the EU will be able to act with impunity.
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Articles on WTO
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In complaining about China’s alleged special treatment by the World Trade Organization, US President Donald Trump and Australia’s Scott Morrison are pointing to something that isn’t really there.
Illegality doesn’t matter when you’ve kneecapped the umpire who would have enforced the rules.
South Africa’s economic reforms of the 1990s were overdone, destroying some industries and thus impacting economic growth and job creation. A re-balancing of industrial policy is called for.
President Trump has unilaterally raised tariffs and sparked trade wars, all without consulting Congress. A century ago, the roles were reversed.
Trump’s embrace of bilateralism in trade relations has pernicious long-term consequences, including ratcheting up the odds of violent conflict.
A quarter-century ago, more than 100 nations agreed to engage in freer trade with one another and signed the declaration that established the World Trade Organization.
As the trade spat between China and the US continues, it is likely to spill over to other countries. For Australia and New Zealand, this could bring both risks and opportunities.
The death of the rules-based world order that supports the global economy and free trade has been greatly exaggerated.
The president again threatened to drop out of the World Trade Organization if it doesn’t ‘shape up.’ But a careful review of case filings show the US isn’t treated any differently than its other members.
Tariffs, border controls and other barriers would kick in and prove costly for both businesses and consumers.
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 president, who called the European Union a ‘foe’ following a series of meetings in Europe, may not realize just how much Americans have gained from their relationship with Europe.
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.
The Trump administration recently imposed tariffs of up to 25 percent on foreign steel and aluminum – including from the EU, Canada and Mexico, the three biggest markets for American goods.
South Africa’s relations with the US could sour under President Trump.
The administration embraces mercantilism, an ideology with few adherents.
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.
The $60 billion in tariffs targeting China not only risks sparking a trade war, they represent a rejection of the WTO’s much more effective way of dealing with unfair trade practices.
Even though Australia sides with the US on more areas of policy, it should be careful about being dragged into the back-and-forth of sanctions between the US and China.
Top contributors
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Associate Professor, Co-Director of China International Business and Economic Law (CIBEL) Centre, Faculty of Law and Justice, UNSW Sydney, UNSW Sydney
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Associate Professor of Economics, University of South Carolina
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Professor: International Business & Strategy, Wits Business School, University of the Witwatersrand
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Emeritus Professor of Law, University of Auckland, Waipapa Taumata Rau
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Professor of Law, University of Waikato
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Associate Professor of Political Science, Georgia State University
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Associate Professor of Agri-Food Trade and Policy, University of Guelph
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Professor of Law and Director of the UOW Transnational Law and Policy Centre, University of Wollongong
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Professor Emeritus, Macquarie Business School, Macquarie University
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Chair, APEC Study Centre, expertise international trade law, economics, Asian regional development, RMIT University
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Global Fellow at the Wahba Institute for Strategic Competition, Associate Professor at the University of Arizona, University of Arizona
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Lecturer of international trade law, Monash Business School, Monash University
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Professor in Intellectual Property and Innovation Law, Queensland University of Technology
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Associate Professor, School of Law, University of the Witwatersrand
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Professor and Distinguished Research Chair, Globalization and Health Equity, L’Université d’Ottawa/University of Ottawa
