Scroll to the top

{{ subpage.title }}

Ian Explains: What is the World Trade Organization?
Ian Explains: What is the World Trade Organization? | GZERO Media

Ian Explains: What is the World Trade Organization?

You probably don’t spend a ton of time thinking about the World Trade Organization (WTO), but it has a huge role in almost every aspect of your daily life—from your morning Brazil-roasted coffee to the Chinese-made smartphone you’re probably using to watch this video.

The WTO is an international organization that deals with the complicated business of moving goods and services across borders. It’s kind of like the referee for global trade, setting the rules and providing a forum for countries to negotiate agreements and resolve disputes. It’s why you can buy avocados from Mexico, clothes from Vietnam, or cars from Korea in the United States without a second thought.

Read moreShow less

Cargo ships dock at their berths to load and unload containers at the terminal in Lianyungang Port in China's Jiangsu province.

CFOTO/Sipa USA via Reuters Connect

Hard Numbers: Chinese trade nosedives, Hungary kills gas subsidy, Iran executes 1st protester, Emiratis travel everywhere, NYT goes on strike

*8.7: China's trade tanked in November to its lowest level since the beginning of the pandemic, with exports falling 8.7% year-on-year. The figures were released on the same day that the EU asked the World Trade Organization to review the legality of Chinese restrictions on Lithuanian imports as payback for the Baltic nation allowing Taiwan to establish a de facto embassy in Vilnius.

Read moreShow less

What We're Watching: China’s Trade War Fightback and the Internet’s Role in Mass Shootings

China's trade war retaliation – China let the value of its currency, the renminbi, fall sharply against the US dollar on Monday to its lowest level in a decade. It also reportedly told state-run companies to stop buying from US farmers. Global stock markets plunged. Both moves were aimed squarely at the US and President Trump, who last week threatened to slap tariffs on an additional $300 billion of Chinese goods if Beijing didn't bow to US trade demands. By allowing the renminbi to slip, Beijing is withdrawing an olive branch, signaling that it is no longer willing to keep its currency artificially strong (and its exports less competitive) while talks with the US proceed. Suspending farm purchases is a direct jab at Trump himself; it increases financial pressure on US farmers, an important political constituency for the president. Taken together, China is saying: We're not going to take the latest US threats lying down. In response, US Treasury Secretary Steve Mnuchin branded China a "currency manipulator" – a largely symbolic move that may have been intended to forestall an even more aggressive response by the White House. We're watching to see whether the two sides can avoid further escalation.

Read moreShow less
Haasstile Actors
GZERO World S1E24: Haasstile Actors

Haasstile Actors

President Donald J. Trump is on the cusp of waging three wars at once: political, economic, and boots-on-the-ground real.

So says Council on Foreign Relations President Richard N. Haass in a remarkably chipper interview for today's show.

+Tarriffying Trade Escalation with China + Syria Withdrawal(?) +Israel/Palestine Border Fights

Subscribe to our free newsletter, GZERO Daily