Overview

• WTO Director-General Ngozi Okonjo-Iweala declared global free trade in crisis during meetings with Japanese Prime Minister Shigeru Ishiba and senior ministers in Tokyo.
• Okonjo-Iweala emphasized Japan's role as a key advocate for open markets and called for its leadership in maintaining, strengthening, and reforming the WTO.
• A joint statement from Okonjo-Iweala and Japanese officials highlighted the need for WTO reforms, including its rule-making, dispute resolution, and monitoring mechanisms.
• The visit follows a temporary 90-day tariff truce between the U.S. and China, though unresolved U.S. tariffs on Japanese autos, steel, and aluminum remain a point of contention.
• Japan reaffirmed its commitment to the multilateral trading system, warning that current trade disruptions could significantly impact the global economy.