The World Trade Organization (WTO), under the leadership of Director-General Dr. Ngozi Okonjo-Iweala, has issued a stern warning to global leaders, including U.S. President Donald Trump, urging an immediate cessation of the ongoing tariff war that is exacerbating the already fragile state of the global economy. According to the WTO, the escalating trade tensions between major economies are creating widespread disruptions, driving up prices for consumers, and ultimately stalling international trade.
In an official statement, Dr. Okonjo-Iweala stressed the importance of multilateral cooperation in maintaining the stability of the global trading system. She expressed grave concern over the consequences of the trade war, particularly the tariff hikes and retaliatory measures that have resulted in a dramatic decrease in cross-border trade flows.
"The current trajectory of tariffs and counter-tariffs is not only detrimental to the economies involved but is also causing a ripple effect across the entire global market," said Dr. Okonjo-Iweala. "Countries that depend on international trade are feeling the pressure, and the economic recovery that was so crucial after the COVID-19 pandemic has been delayed significantly. The global economy cannot afford further division, especially when we should be working together to address climate change, health crises, and technological advancements."
Dr. Okonjo-Iweala has called for urgent dialogue among world leaders, emphasizing the need for a new approach that prioritizes collaboration over confrontation. "We urge President Trump and other global leaders to reconsider their approach to trade policy," she said. "It is critical that we de-escalate these tensions and work toward multilateral solutions that promote free and fair trade for all nations, not just a select few."
The WTO is committed to facilitating negotiations aimed at reducing tariffs and rebuilding trust in the global trade system. Dr. Okonjo-Iweala has stated that it is imperative for nations to return to the negotiating table and find compromises that address the needs of all parties, particularly the most vulnerable.