WTO chief urges Japan to defend free trade

TOKYO: Global free trade is under serious threat, warned World Trade Organisation (WTO) Director-General Ngozi Okonjo-Iweala during her meeting with Japanese Prime Minister Shigaru Ishiba on Tuesday. Amid growing protectionist policies and tariff hikes led by US President Donald Trump, Okonjo-Iweala emphasized the urgent need for global cooperation.

“Trade is facing very challenging times right now and it is quite difficult,” she said. “We should try to use this crisis as an opportunity to solve the challenges we have and take advantage of new trends in trade.” She praised Japan as a vital supporter of open markets and urged it to play a leading role in defending and reforming the multilateral trading system. Her visit coincides with a temporary truce between the US and China, who recently agreed to reduce high tariffs for 90 days to allow time for negotiations. Japan, however, remains among the countries yet to reach a resolution with the US on raised tariffs on steel, aluminum, and automobiles.

Okonjo-Iweala noted the WTO’s past success in supporting global trade liberalization, which helped nations like Japan and China become major export-driven economies. She stressed the importance of unity among WTO members to restore the organization’s ability to resolve disputes and manage trade effectively. The WTO chief also plans to meet Japan’s Foreign Minister Takeshi Iwaya, Finance Minister Katsunobu Kato, and Industry Minister Yoji Muto to reinforce WTO-Japan cooperation.