OECD urges countries to play by established trade rules amid tariff row

Governments should stick to established rules of trade and avoid escalating disputes if they want to safeguard economic growth and protect jobs, the Organization for Economic Cooperation and Development said on Tuesday. The OECD’s call comes amid a deepening row over US tariffs on steel and aluminum that has led to fears of a global trade war. “Trade protectionism remains a key risk that would negatively affect confidence, investment and jobs,” the OECD said in its interim report on the world economy. The OECD put global economic growth at 3.9 percent for this year, up 0.2 points from previous expectations, and at 3.9 percent for 2019, AFP reports. In 2017, world economic growth was 3.7 percent.