US President Donald Trump is flouting the rules of the World Trade Organisation. Its Director-General, Ngozi Okonjo-Iweala, sees this as “the worst distortions of the last 80 years” – yet she still holds out hope for the US.
The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, believes global trade is facing its greatest crisis since the end of the Second World War. “We are currently witnessing the worst disruptions of the last 80 years,” Okonjo-Iweala told. The Director-General wants to restore the WTO’s ability to act, which is currently being partially blocked by the US.
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“Individual members could, for example, join together more often than before to form so-called coalitions of the willing,” Okonjo-Iweala suggested – “that is, groups within the WTO that then develop rules and make decisions together.” US President Donald Trump’s unilateral tariff hikes against many countries are regarded as a flagrant violation of WTO rules, which aim to promote mutual tariff reductions among its members and permit increases only in justified exceptional cases.
At the same time, the Nigerian economist emphasised that, despite all the upheavals, almost three-quarters of global trade continues to take place in accordance with WTO rules. “The vast majority of members apply our rules,” said Okonjo-Iweala. “Not everything is broken.”
Despite Trump’s tariff policy, Okonjo-Iweala continues to defend the US and sees the country as a driving force for necessary change. “We value the US as a member and are pleased that they are on board,” she said. “And it is a good thing that WTO member states are now – unlike perhaps before – prepared to tackle difficult reforms.”
