Tariff Policy Index

WTO Director-General Ngozi Okonjo-Iweala said global trade is facing its most serious disruption in decades as tariffs, geopolitical tensions and fragmented supply chains challenge the existing system. She called for more resilient and diversified supply lines.

China and the United States agreed to pursue tariff reductions covering about $60 billion in bilateral goods and extended their trade truce through January 10. Proposed cuts include agricultural products, consumer goods and household appliances, but exclude U.S. soybeans from China's list.