It also comes at a time when growing unilateral protectionist policies by the US and some other countries have worsened fears of an escalating global trade war, threatening to render the WTO meaningless.
US President Donald Trump has imposed heavy tariffs on imported steel and aluminium, sparking fears of a global trade war. Trump signed two proclamations that levied a 25 per cent tariff on steel and a 10 per cent tariff on aluminium imported from all countries except Canada and Mexico.
Beef imports have risen quickly as prices fell as the U.S. livestock sector recovered from drought. But the U.S. also faces stiff competition from Australia, whose free trade agreement with Japan means it does not face the same emergency tariffs.
Solar equipment makers face financial collapse- China accounts for 85 per cent of Indian solar module market, inferior tech, less access to cheap loans hurt Indian firms, orders dried up after WTO ruling on local content requirements.