S\u00e3o Paulo \u2013 The World Trade Organization (WTO) reported this Wednesday (4) that the world\u2019s 20 biggest economies \u2013 the so-called G20 \u2013 took 39 new trade restriction measures from mid-October 2017 to mid-May 2018. Nearly six barriers were put in place each month, which is double the monthly average from October 2016 to May 2017.<\/p>\n
Measures include import tax hikes, stricter customs procedures and the levying of taxes on exports.<\/p>\n
Conversely, G20 countries introduced 47 new rules to facilitate international trade, or nearly seven per month, which is slightly up from a prior average of six.<\/p>\n
These new rules included reduction or elimination of charges and the streamlining of import-export procedures.<\/p>\n
The WTO said these pro-trade measures cover an estimated USD 82.7 billion worth of international trade, whereas the restrictive actions taken cover USD 74.1 billion.<\/p>\n
The organization notes, however, that the amount covered by pro-trade measures is down nearly 100% from the last survey, while the coverage of barriers soared by 150%.<\/p>\n
\u201cThe marked increase in new trade restrictive measures among G20 economies should be of real concern to the international community,\u201d said WTO Director General Roberto Azev\u00eado (picture above), according to a statement. \u201cAdditional trade-restrictive measures have been announced in the weeks since this reporting period and therefore the deterioration in trade relations may be even worse than that recorded here,\u201d he added.<\/p>\n
It\u2019s a warning against the trade war prompted by US president, Donald Trump, initially against China, but that already threatens traditional US allies in Europe, Asia and Americas.<\/p>\n
The WTO Director General points out that \u201cthis continued escalation\u201d poses a serious threat to recovery and growth in all countries and that this is beginning to reflect in some indicators. He advises restraint in applying new measures and asks for a de-escalation of the trade war situation.<\/p>\n
The G20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, South Korea, Japan, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States and European Union. That is, the WTO report concerns the main countries involved in the \u201cwar\u201d prompted by the US.<\/p>\n
Translated by Gabriel Pomerancblum and S\u00e9rgio Kakitani <\/strong><\/p>\n <\/p>\n <\/p>\n