Countries across the world imposed 222 exports curbs on medical supplies and medicines and in some cases food, according to Global Trade Alert, a Swiss monitoring group. Former EU trade chief Cecilia Malmstrom said there was a "worrying" tendency towards protectionism in the world and the re-emergence of trade conflicts briefly paused by the health crisis. The World Trade Organisation said on Tuesday that global trade in goods was set for a record fall this year and that wider restrictions could see a 2021 rebound falling short. US figures show a trade deficit with the EU in goods and services of $109 billion in 2018. Rebalancing the relationship with Europe, including on trade, was a core US national interest, according to Hosuk Lee-Makiyama, director of trade think-tank ECIPE.

Source: bd News24 June 29, 2020 06:00 UTC