A global agreement to cut red tape and overhaul border controls has been implemented by the World Trade Organisation.
Editor’s Remarks: The measures were described by the director of the 164 member-strong trade forum as the “biggest reform of global trade this century” and forecast to grow world GDP 0.5% by 2030 and boost global exports by at least $1trn by cutting trade costs by 14.3% on average. The WTO has played down concerns over President Trump’s shifted stance on free trade in comparison to his predecessor who signed the agreement. Such optimism seems likely to be vindicated given how implementation of the rules, which focus on harmonising border processes and customs clearance, is not something that could be visibly hindered by Trump’s proposals.
What to watch: NAFTA, TTP, Roberto Azevedo, Arancha Gonzalez