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Is the WTO a failure or a success?

Formal analysis confirms what casual observation suggests: the WTO’s success at preventing trade wars far outweighs its failure to promote trade talks.

How trade policy affects uncertainty

Whether governments, or groups of governments, will raise or lower tariffs, ban the import or export of certain goods, or set new standards for carbon emissions makes industries, companies, and individuals worry about the cost and availability of goods now and in the future. 
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