Italian economist emphasizes importance of WHO
(MENAFN) An Italian economics expert emphasized the importance of the World Trade Organization (WTO) as the key platform for resolving ongoing global tariff disputes initiated by the United States.
Mario Tirelli, economics professor at the University of Roma Tre, explained that the trade tensions led by the U.S. have expanded to impact much of the world, including the European Union, creating increased uncertainty that he described as detrimental to the EU.
Tirelli pointed out that critical trade sectors between the EU and the U.S., such as machinery and transportation equipment—which made up nearly 40 percent of EU exports to the U.S. in 2024—have been hit hardest by the recent tariffs.
He criticized the trade approach under the Trump administration for rejecting multilateralism and stressed the need to return negotiations to international forums. “We have to try to move this type of negotiation back to multilateral platforms,” he said, emphasizing that the WTO remains the best venue for fair and open discussions of countries’ concerns.
Given the U.S.’s waning support for institutions like the WTO, Tirelli urged the EU, China, and other aligned nations to unite in defending the multilateral framework. He suggested this collective effort could pressure the U.S. to re-engage in multilateral talks.
Drawing on his expertise in game theory, Tirelli acknowledged that reaching a trade deal between the EU and U.S. will be challenging but noted that the EU is not necessarily at a disadvantage if its member states remain united.
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