While US President Donald Trump may be taking the United States to a more protectionist trade posture, the rest of the world appears to be moving in the opposite direction.
Between mid-October 2016 and mid-May 2017 members of the World Trade Organization (WTO) recorded the lowest monthly average of new trade restrictions since the financial crisis of 2008, according to the director general’s mid-year report on trade developments. Director General Roberto Azevêdo welcomed this news, and urged WTO members to show continued moderation. The report also shows that the trade coverage of the trade-facilitating measures was significantly higher than that of the restrictions. Azevêdo presented the findings to WTO members on July 24.
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