ICC Secretary General John Denton published a letter in Financial Times last week titled, “The Rules-based Trading System is Worth Preserving.”
The letter comes in light of the Trump administration’s decision to impose steel and aluminum tariffs on its trading partners.
“As the prospect of a ‘trade war’ gradually escalates, we must all bear in mind what is currently at stake in broader systemic terms,” writes Denton. “The rules-based multilateral trading system has fuelled seven decades of unprecedented job creation and poverty alleviation. Communities connected by commerce have a common interest in maintaining peace. The World Trade Organization has proved itself the linchpin of what is — by any objective measure — a more prosperous world order. And with the right reforms it can do more to help families and workers the world over.”
The full letter can be viewed on FT’s website, subscription required.
