Countries to lose in trade war: WTO chief

All countries will lose in a global trade war, the head of the world’s trade referee warned. Under attack from US President Donald Trump, the head of the World Trade Organisation, Roberto Azevedo, acknowledged that reforms are needed, but rejected criticism that trade is the main cause of job losses.

Azevedo welcomed the commitment by the Group of 20 over the weekend in Buenos Aires to reform the WTO to better preside over the modern trading system, saying the “system can be better.”  But as the Trump administration has aggressively imposed punitive tariffs on trading partners, especially on China, with the goal of reducing the US trade deficit, Azevedo said that “we have to get away from the idea that trade is a zero-sum proposition.”