The head of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, expressed concerns about the current state of global free trade during her meeting with Japanese Prime Minister Shigaru Ishiba on Tuesday. She highlighted the challenges posed by U.S. President Donald Trump’s fluctuating tariffs and policies, which have significantly impacted international commerce.
Okonjo-Iweala emphasized her optimism regarding Japan’s role as a leader in advocating for open markets. “We are navigating particularly turbulent times in trade, which present considerable difficulties,” she remarked. “However, we should view this crisis as a chance to address the underlying issues and leverage emerging trends in trade.”
The WTO Director-General urged Japan to take on its responsibility as a “champion of the multilateral trading system,” stressing the importance of maintaining, strengthening, and reforming the WTO, as reported by the Japanese Foreign Ministry.
Following her discussions with Ishiba, Okonjo-Iweala met with Japanese Foreign Minister Takeshi Iwaya, culminating in a joint statement that underscored the critical importance of the multilateral trading system amid uncertainty and disruption. The statement from Japan echoed concerns that the ongoing trade turmoil could substantially affect the global economy and the integrity of the multilateral trading framework. It also called for reforms within the WTO, particularly concerning rule-making, dispute resolution, and the monitoring of agreement implementations.
This meeting occurred a day after the United States and China announced a temporary agreement to reduce recently imposed tariffs for a period of 90 days, allowing time for further negotiations
