The Global Shippers’ Alliance has called on world leaders to solve the dispute on import tariffs and work on decreasing the red tape in international trade.
The issue of rising protectionism worldwide and the possibility trade wars was examined at the GSA’s general assembly in Hong Kong on 26th-27th March.
The alliance assured EU Trade Commissioner Cecilia Malmström of its strong support for her efforts to reduce the negative impact of a trade war between the US and EU. Consequences of such a trade war would certainly spread to other countries and regions in the world.
The GSA points out that some 40 per cent of GDP depends on cross border flows. This was 53 per cent in 2007. This so-called de-globalisation is at least partly the result of protectionist measures.
“So we see a parallel with the present situation where there is a slight decrease in the volume of world trade. Let us try to prevent this becoming a new long-lasting trend.”
The GSA consists of the Asian Shippers’ Alliance, the European Shippers’ Council, and the American Association of Exporters and Importers.