WTO Says Members Introducing More Measures to Boost Trade, Not Restrict It
The World Trade Organization released its latest Trade Monitoring Update July 8, showing that WTO members have introduced more trade-facilitating measures than trade-restricting ones on goods from mid-October to mid-May. The update also shows a "rapid increase in industrial policy subsidies," especially in areas related to climate change and national security, the WTO said.
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WTO members introduced 169 trade-facilitating measures and 99 trade-restricting measures on goods, with most of the measures covering the import of goods, the WTO said. New export restrictions "declined significantly," reversing a trend from 2021-23. The trade coverage of the trade-facilitating measures was estimated at $1.22 billion.
Over the review period, the average number of trade remedy initiations bumped up to 24.6, and Group of 20 nations started nearly 90% of all new investigations, the WTO said.