Original Publication Date: May 31, 2018
Author: EU Logos
Introduction
The Organization for Economic Cooperation and Development (OECD) held its annual meeting in Paris on May 29th and 30th. The event highlighted the widening gap between the United States and its partners regarding multilateralism, which was the central theme of the meeting. French President Emmanuel Macron advocated for a “strong multilateralism,” but faced resistance from US Secretary of Commerce Wilbur Ross, who supports President Donald Trump’s protectionist stance, favoring “bilateral actions” instead.
US Tariff Threats and Their Impact
The meeting took place amid rising tensions as the United States threatened to impose a 25% tariff on steel imports and a 10% tariff on aluminum imports, directly affecting all OECD member countries. The decision on whether to implement these tariffs was expected by the end of that week. Since taking office in January 2017, President Trump has repeatedly questioned the role of multilateral organizations such as the OECD and the World Trade Organization (WTO), casting doubt on their effectiveness.
Failure to Reach a Joint Statement
For the second consecutive year, OECD members failed to agree on a joint communiqué. In 2017, the organization issued two separate statements—one signed by the United States and the other by the remaining 34 member countries. This year, once again, the US refused to endorse a unified closing statement, highlighting the ongoing friction in international economic cooperation.
Conclusion
The US stance at the OECD meeting underscores a significant shift in its approach to international economic policies, moving away from cooperation toward unilateral and bilateral agreements. The future of multilateralism within institutions like the OECD remains uncertain as member states attempt to navigate these evolving dynamics.
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