Home / Knowledge / News / Textiles / G20 nations imposed 28 new trade-restrictive measures: WTO

G20 nations imposed 28 new trade-restrictive measures: WTO

25
Nov '19
Pic: WTO
Pic: WTO
The G20 countries have imposed as many as 28 new trade-restrictive measures like tariff hikes, import bans and stricter customs procedures for imports between mid-May and mid-October 2019, according to a recent trade monitoring report by the World Trade Organisation (WTO), which said these trade restrictions among G20 economies remain at historic high levels.

G20 members include India, Argentina, Australia, Brazil, Canada, China, France, Germany, Japan, Russia, the United Kingdom and the United States.

The restrictive measures cover around $460.4 billion worth of traded merchandise, a rise of 37 per cent over the same period previous year. With restrictions accumulating over time, the share of global trade covered by such measures has soared, the report said.

Thirty six new measures aimed at facilitating trade, including eliminating or reducing import tariffs, and export duties.

Commenting on the report, WTO director general Roberto Azevedo called on G20 economies to de-escalate trade tensions to spur investment, growth and job creation.

"Historically high levels of trade-restrictive measures are having a clear impact on growth, job creation and purchasing power around the world. We need to see strong leadership from G20 economies if we want to avoid increased uncertainty, lower investment and even weaker trade growth," he said.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Pharr sells Pharr High Performance to Coats Group

Pharr, a provider of differentiated textile products and assorted...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

TOAI highlights importance of textiles in auto industry

The first edition of the conference 'Textile Opportunities in a...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Cocona's 37.5 fibres to have new biodegradable additive

All of the 37.5 staple fibres and filament yarns by Cocona, will now...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

It will take some time for the people to change their buying choices

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Prabu Mohanram, Balavigna Weaving Mills Pvt Ltd

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Ramez Basmaji,

Ramez Basmaji

Fabusse is a Lebanon-based fashion agency that offers a variety of...

Oliver Schmitz,

Oliver Schmitz

Germany-based Gmöhling is a leading manufacturer of aluminium containers...

N Nithyanandan,

N Nithyanandan

Incorporated in 1999, Purani Textiless Private Limited is one of the...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search