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July 18, 2107
WTO reports moderate rise in trade restrictions within G20 countries
According to the World Trade Organization's (WTO) seventeenth monitoring report on Group of 20 trade measures, that trade restrictions in G20 economies have risen at a moderate rate similar to that of previous years, despite the uncertainty facing the global economy.
The report found that a total of 42 new trade-restrictive measures were applied by G20 economies during the review period (mid-October 2016 to mid-May 2017), including new or increased tariffs, customs regulations and rules of origin restrictions. This is an average of six measures per month – slightly higher than in 2016 but below the longer-term trend observed in 2009-2015 of seven per month.
G20 economies also implemented 42 measures aimed at facilitating trade during the review period, including the elimination or reduction of tariffs and the simplification of customs procedures. At an average of six new trade-facilitating measures per month, this represents a similar level compared to the previous reporting period (mid-May to mid-October 2016) and is in line with the declining trend observed in 2016.
The initiation of trade remedy investigations (which the report does not classify as restrictive or facilitating) remained the most frequently applied measure, representing 50% of all trade measures taken during the review period.
The G20 economies are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Republic of Korea, Japan, Mexico, the Russian Federation, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States, as well as the European Union.
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