In the period between October 2018 to May 2019 the trade coverage of import-restrictive measures implemented during the review period is estimated at USD 339.5 billion, the second-highest figure on record after the USD 588.3 billion reported in the previous period. The same was proclaimed by the Director-General’s latest mid-year report. The same is considered to be concerning as it is leading to trade barriers . The report shows that WTO members applied 38 new trade-restrictive measures during the review period mainly through tariff increases, import bans, special safeguards, import taxes and export duties. It is also anticipated that more trade restrictive measures will be implemented in the near future. At this critical juncture, the report calls on WTO members to follow through on their commitment to trade and to the rules-based international trading system and work together urgently to ease trade tensions and to improve and strengthen the WTO.
This post has been authored by Gaurav Agarwal, Third Year, National University of Juridical Sciences, Kolkata
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