Protectionism to take centre stage at Abu Dhabi WTO meet

News Snapshot:

NEW DELHI : A record number of World Trade Organization (WTO) members have raised concerns about rising protectionist moves in global trade, propelling the issue to centre stage at the 13th WTO Ministerial Conference (MC13) in Abu Dhabi in February, an official aware of the development said. Many developing nations, including India, are set to oppose the European Union’s (EU’s) carbon border adjustment mechanism (CBAM) that aims to tax imports of carbon-intensive products such as steel, aluminium, cement, and electricity. The EU is also expected to file a complaint against the US’s Inflation Reduction Act because the $430 billion subsidy...