WTO Chief Warns ‘We Must Stop Escalation’ Of Trade Tensions

World Trade Organization chief Roberto Azevedo warned Monday against a damaging “escalation” of trade tensions between the United States and other major economies, following … Continue reading WTO Chief Warns ‘We Must Stop Escalation’ Of Trade Tensions

By Rejoice Ewodage

Updated June 11, 2018

Managing Director of the International Monetary Fund (IMF) Christine Lagarde and Director-General of the World Trade Organization (WTO), Roberto Azevedo, chat ahead of a meeting with chairmen of international economic and financial organizations at the Chancellery in Berlin on June 11, 2018. Bernd von Jutrczenka / POOL / AFP

World Trade Organization chief Roberto Azevedo warned Monday against a damaging “escalation” of trade tensions between the United States and other major economies, following a divisive G7 summit.

“We must stop this escalation of tensions, the tit-for-tat process is not going to be helpful… new sectors will be brought into the picture which is something that will harm everyone,” he said.