Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has hailed the trade deal between the US and China, describing it as a “significant step forward”.
She stated this in a press conference on the WTO’s ‘Global Trade Outlook and Statistics – April 2025’ at the WTO headquarters in Geneva, Switzerland.
Switzerland’s neutrality has long lent itself to helping solve major global problems, and it is also home to the World Trade Organisation (WTO), whose role is to draw up and enforce the rules of global trade.
In a statement on the trade deal, she said she was “pleased with the positive outcome of the talks”, adding that they “mark a significant step forward and, we hope, bode well for the future”.
She underlined how important that is for the entire global economy. Discussions on how to reform the WTO so that it is better suited to the modern global economy have been going on for some time.
The WTO has been warning that if the global economy were to split into two blocs, it could result in a long-term reduction in global real GDP of nearly 7%.
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