WTO chief says open global trade only way to feed world: report

Global poverty will worsen if countries fail to sustain an open and predictable trading system, World Trade Organization (WTO) director-general Ngozi Okonjo-Iweala told Bloomberg.

Trade is critical for food security, with one in four calories consumed globally coming from trade, the WTO director-general said in Rome.

Okonjo-Iweala, who earlier served as Nigeria’s finance minister, said there are challenges posed by protectionism and trade wars.

The WTO chief’s remarks come at a time global trade is facing increasing challenges.

The US-China trade war, characterized by tariffs on goods such as technology and agriculture, has disrupted supply chains worldwide.

Following his presidential win, US president-elect Donald Trump has vowed huge tariffs on imports from Mexico, Canada and China from day one of his administration in January.

“On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders,” Trump posted on Truth Social at the time. “This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!”

Trump maintained that his administration will impose an additional 10% tariff on goods coming from China.

“I have had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States – But to no avail. … Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America,” he said on Truth Social last month.