Ending the Protectionist Scourge Would Benefit All
In recent years, the US has abandoned its World Trade Organization leadership and pursued increasingly protectionist policies, spurring other economies to respond in kind. Rather than continue this race to the bottom, the world’s trading powers must address the disagreements driving the shift away from open trade.
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WASHINGTON, DC – The World Trade Organization is among the greatest success stories of the post-World War II era. By establishing rules based on principles like nondiscrimination among trading partners and equal treatment of foreign and domestic goods, the WTO enabled international trade to flourish, with far-reaching benefits for economic growth and poverty reduction. In this sense, the WTO is like oxygen: essential, but often taken for granted.