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Trade Wars and the World Trade Organization: Causes, Consequences, and Change
Author(s) -
Hoekman Bernard
Publication year - 2020
Publication title -
asian economic policy review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.58
H-Index - 20
eISSN - 1748-3131
pISSN - 1832-8105
DOI - 10.1111/aepr.12278
Subject(s) - world trade , international trade , economics , trade barrier , commercial policy , free trade , international economics , trade war , business , political science , law , china
The rise in trade tensions and launch of a trade war by the USA is in part a result of World Trade Organization (WTO) working practices that have impeded the ability to use the organization to address the underlying sources of conflict through dialogue, analysis, and rule‐making. Open plurilateral agreements between the major protagonists offer an avenue for revitalizing the ability of the WTO to resolve trade conflicts. More generally, reform of WTO working practices is needed for the organization to be more effective in providing a platform for members to cooperate on trade policy matters.