A trade war is not the answer to the challenges of globalisation

We have an international order, and not only on trade, that is based on multilateralism. It is based on the assumption that countries will respect the rules and institutions that they helped to create. We have all benefited from trade liberalisation and it is important that we stay committed to the world trading system. “There are losers of globalisation and technological developments and we need to find solutions for them. But it is not by resorting to protectionism or by imposing unilateral measures that limit imports that a solution will be found.  On the contrary, this kind of measures risk creating a flaw in the system that might hit back at those that are already suffering the most.” This was the core message conveyed by President Marcegaglia, speaking at the World Economic Forum in a session focusing on trade, with the Secretary of Commerce of the United States Wilbur L. Ross and the Director General of the World Trade Organisation (WTO) Roberto Azevedo. Pictures