Without action to ease tensions global trade could be harmed: WTO Chief

Without action to ease tensions and recommit to cooperation in trade, we could see serious harm done to the multilateral trading system.

Severe damage could be done to the multilateral trading system unless political steps are taken to solve a "serious" crisis in global trade, Roberto Azevedo, director-general of the World Trade Organisation, said on Wednesday.

"Without action to ease tensions and recommit to cooperation in trade, we could see serious harm done to the multilateral trading system. And the long-term economic consequences of this could be severe," Azevedo said in remarks to a dinner in London, without referring directly to the United States and China which have been involved in an escalating trade dispute.