“Political frustration due to inflation…will be reflected in elections.”
Abu Dhabi WTO General Assembly… Join East Timor and Comoros
The head of the World Trade Organization (WTO) expressed concern about former President Donald Trump’s protectionism ahead of the US presidential election in November this year.
According to the Associated Press on the 26th (local time), WTO Secretary-General Ngozi Okonjo-Iweala said at the WTO General Assembly held in Abu Dhabi, United Arab Emirates (UAE) that war, uncertainty, and instability are putting pressure on the global economy.
Secretary-General Okonjo-Iweala said rising prices for food, energy and other necessities would fuel political frustration among people and be reflected in this year’s elections.
He also warned, “The multilateral trading system, which has been evaluated as a global public good since its creation 75 years ago, continues to be misinterpreted and damaged by some.”
Although he did not directly mention former President Trump, his remarks are interpreted as targeting his America-first protectionism.
Former President Trump, who has an overwhelming lead in the US Republican presidential primary, has announced that he will impose a 10% tariff on all imported goods if he re-enters the White House. Former President Trump had previously mentioned the possibility of withdrawing from the WTO, saying it had ruined the United States.
Secretary-General Okonjo-Iweala did not mention the war in Gaza, but pointed out that Yemen’s Houthi rebels should stop attacking ships passing through the Red Sea.
Secretary-General Okonjo-Iweala said he was concerned that “transportation disruptions in critical waterways such as the Red Sea and the Panama Canal are a new source of delays and inflationary pressures.”
He also diagnosed that “the world is in a more difficult situation than in mid-2022, when we were slowly emerging from the pandemic and food and energy security was shaken by the war in Ukraine.”
The WTO General Assembly takes place this week in Abu Dhabi. Member countries will discuss banning subsidies to prevent overfishing, extending the digital media tax deferral, and agricultural issues.
Meanwhile, in the opening session of the day, East Timor and Comoros in East Africa joined the WTO, increasing the total number of member countries to 166.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.