WTO Director General Azevedo on Trade, Brexit, Trump

The video discusses the facilitation agreement's impact on global trade, highlighting its potential to boost GDP more than eliminating tariffs. It addresses challenges like job loss due to technology and the 4th Industrial Revolution. The video also covers Brexit's implications for UK-EU trade and the WTO's role. It examines US trade policy changes under President Trump and their effects on the WTO. Finally, it outlines the WTO's recent achievements and future goals for enhancing global trade.

What is the expected impact of the facilitation agreement on global GDP growth?

• It will increase GDP growth by half a percentage point.

• It will have no impact on GDP growth.

• It will double the GDP growth rate.

• It will decrease GDP growth by half a percentage point.

According to the transcript, what is a major cause of job loss in advanced economies?

• Global economic slowdown

• Increased tariffs

• New technologies and higher productivity

• Trade agreements

What is the first step in the Brexit process according to the transcript?

• Negotiation with WTO members

• Agreement on separation terms between the UK and EU

• Establishing new tariffs

• Creating a new trade deal with the US

How does the UK currently conduct trade with countries like China and the US?

• With preferential treatment

• On WTO terms

• Under EU terms

• Through bilateral agreements

What is a key focus of President Donald Trump's trade policy?

• Strengthening the TPP

• Increasing multilateral trade agreements

• Withdrawing from bilateral deals

• Renegotiating NAFTA and preferring bilateral deals

What is the WTO's role in addressing unfair trade practices?

• It has no role in addressing unfair trade.

• It provides tools to handle unfair trade concerns.

• It only addresses unfair trade in agriculture.

• It focuses on bilateral trade issues.

What significant achievements has the WTO made in recent years?

• No agreements have been reached.

• Expansion of the information technology agreement and elimination of export subsidies.

• Withdrawal from the TPP.

• Increased tariffs on agricultural products.