In recent years, that consensus has not been reached, largely due to objections from the United States. Disputes between the European Union and the United States over tariffs on steel and aluminium imports illustrate this clearly. WTO panels have since examined these tariffs and, in decisions issued in 2022, found them to be inconsistent with global trade rules. Under a functioning system, those findings would proceed through appeal if challenged and ultimately become binding. These are jurisdictions that rely on rules based enforcement to balance structural inequalities in global trade.

Source: The Edge Markets March 26, 2026 13:19 UTC