With the U.S. Going Rogue, World Fumbles for New Trade Consensus
- WTO members meet in Argentina with trade volumes surging
- Trump administration questions WTO’s ability to do its job
The silhouette of cranes are seen unloading container ships at the Port of Los Angeles.
Photographer: Patrick T. Fallon/Bloomberg
Trade ministers will meet in Argentina with one of the traditional defenders of free markets, the U.S., questioning the benefits of the international rules it helped to forge.
Even though trade volumes are set to grow faster than the world economy this year for the first time since 2014, members of the World Trade Organization will gather in Buenos Aires concerned about the outlook. While he hasn’t followed through on many of his threats to rip up trade accords or take on China, Trump is questioning the WTO’s ability to police global commerce. He’s also threatening to walk away from the North American Free Trade Agreement after withdrawing from a 12-nation Asia-Pacific trade pact early this year.