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Trade Challenges Deepen, Responses Evolve

    Global trade entered a more uncertain phase in early November, marked by unilateral measures, geopolitical rivalry, and defensive economic policies. WTO Director-General Ngozi Okonjo-Iweala noted that despite rising tariffs and export controls, most global trade still operates under MFN rules, though WTO reforms remain urgent as the world shifts toward services, digital flows, and diversified supply chains. Tensions rose across major economies: the US-India dispute over copper duties intensified at the WTO; Europe faced renewed vulnerability after China briefly halted chip supplies, highlighting dependence and internal EU splits. Companies like Ineos launched multiple anti-dumping cases to counter low-priced imports amid high energy and carbon costs. Asia saw slowing Chinese exports and EU efforts to secure rare-earth supplies. ASEAN economies struggled with cheap Chinese inflows and US scrutiny. In India, the government launched a ₹25,060-crore Export Promotion Mission to support affected sectors, though delivery concerns persist.

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