The World Trade Organization (WTO) announced on Tuesday its plan to hold informal consultations with delegations on the growing impact of recent global trade tensions. The talks aim to address concerns over the current economic landscape and the multilateral trading system.
Ambassador Saqer Abdullah Almoqbel of Saudi Arabia, who chairs the WTO's general council, is set to lead these discussions over the coming week. His goal is to explore practical engagement strategies for WTO members as interest builds in managing the fallout from recent economic developments.
The discussions come in the wake of the United States' controversial "reciprocal tariffs" announced last week. These measures have sparked a global debate, with markets reacting strongly and economists expressing increasing anxiety over potential long-term repercussions.
This initiative by the WTO underscores the organization’s commitment to fostering dialogue and promoting stability in international trade during a time of rapid change. The informal consultations are seen as a platform to share ideas, strategies, and insights, reflecting the dynamic nature of global economics and policy-making today.
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WTO to hold informal consultations on impact of trade tensions
cgtn.com
