WTO to hold informal consultations on impact of trade tensions
The World Trade Organisation (WTO) said on Tuesday that it will hold informal consultations with delegations on the current economic situation and its impact on the multilateral trading system. - WTO
GENEVA: The World Trade Organisation (WTO) said on Tuesday that it will hold informal consultations with delegations on the current economic situation and its impact on the multilateral trading system, reported Xinhua.
According to a WTO official, the Chair of the General Council, Ambassador Saqer Abdullah Almoqbel of Saudi Arabia, plans to hold informal consultations with interested delegations in response to their concerns about the latest developments in global trade. No information regarding the members involved was provided.
The discussions will be held over the course of the next week, and will explore "how WTO members could engage on these latest developments," the official said.
The United States' controversial "reciprocal tariffs" announced last week have stirred tensions worldwide, hitting global markets hard, sparking backlash from other countries and drawing criticism from economists and investors.
--BERNAMA-XINHUA
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