December 18, 2023

G20 trade policy direction becoming more restrictive amid continued slow trade growth

Trade measures introduced by G20 economies have become more restrictive in recent months, according to the 30th WTO Trade Monitoring Report on G20 trade measures issued on 18 December. The report shows that between mid-May and mid-October 2023, G20 economies introduced more trade-restrictive than trade-facilitating measures on goods, although the value of traded merchandise covered by facilitating measures continued to exceed that covered by restrictions. Director-General Ngozi Okonjo-Iweala called on the G20 to show leadership and contribute to economic stability and growth by unwinding recent and longstanding restrictions on trade.

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