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Customs &
Trade News


November 9, 2017

WTO reports moderate rise in trade restrictions within G20 countries

According to the World Trade Organization's (WTO) eighteenth monitoring report on Group of 20 (G20) trade measures, the G20 economies introduced fewer trade-restrictive measures during the period of mid-May 2017 to mid-October 2017 compared to the previous review period.

The report found that a total of 16 new trade-restrictive measures were adopted by G20 economies during the review period, including new or increased tariffs, export restrictions and local content measures. This is an average of just over three restrictive measures per month compared to six during the previous review period (mid-October 2016 to mid-May 2017).

G20 economies also implemented 28 measures aimed at facilitating trade during the review period, including eliminated or reduced tariffs and simplified customs procedures. At an average of almost six trade-facilitating measures per month, this represents a similar level compared with the previous review period and for the whole of 2016.

The estimated trade coverage of import-facilitating measures implemented by G20 economies (US$27 billion) is slightly lower than the estimated trade coverage of import-restrictive measures ($32 billion). This is a reversal from the previous report where the estimated trade coverage of import-facilitating measures was more than three times larger than that of import restrictive measures.

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.

Source: WTO


 

Transport &
Trade News