The ramifications of Trump's tariff decisions for world trade organisation

The leader of the World Trade Organization Ngozi Okonjo-Iweala, conveyed a sense of "cautious optimism "tatting that her approach to the U.S. President Donald Trump's trade and tariff strategies is to remain composed and observe the actual policies that will be put into action.

"... keep calm. Let's see what policies are actually enacted and implemented before we get overexcited..., cautious optimism... the tariffs will be pronounced but look at what is being done first... everybody thought that by today or tomorrow we'd get... an executive order with 60% tariffs or 30% and so on. So far, we've seen the request for a slew of studies and investigations of the various trading partners and various types of trade agreements to see their impact on the United States...that's a bit encouraging."

On the panel, philanthropist David Rubenstein shared his insights, noting that President Trump's transactional approach to negotiations led him to doubt the likelihood of significant tariff increases.

He further emphasized that the most beneficial outcome for global economic growth would be achieving peace in the Middle East and resolving the conflict between Russia and Ukraine.

Trump's approach to tariffs has significantly weakened the World Trade Organization.

During his first term in office, he effectively stalled the WTO's highest court by refusing to allow new judges to be appointed, a situation that remains unresolved.

Additionally, he imposed tariffs on steel and aluminium imports into the United States.

Now, he has indicated that he might introduce a 10% tariff on all incoming goods.