TABLE OF CONTENTS 2 RECENT ECONOMIC AND TRADE
29 June 2020REPORT ON G20 TRADE MEASURES(MID-OCTOBER 2019 TO MID-MAY 2020)TABLE OF CONTENTSKEY FINDINGS . 2EXECUTIVE SUMMARY . 71INTRODUCTION .112RECENT ECONOMIC AND TRADE DEVELOPMENTS.132.1Overview . 132.2Economic Developments . 142.3Merchandise Trade. 152.4Trade in Commercial Services . 212.5Trade Forecast and Economic Outlook . 213TRADE AND TRADE-RELATED POLICY DEVELOPMENTS.253.1Overview of trends identified during the review period . 253.1.2COVID-19 Trade and trade-related measures . 313.2Trade Remedies . 373.3Sanitary and Phytosanitary (SPS) Measures . 483.4Technical Barriers to Trade (TBT) . 533.5Trade Concerns Raised in Other WTO Bodies . 593.6Policy Developments in Agriculture . 633.7General Economic Support . 723.8Other Selected Trade Policy Issues . 764POLICY DEVELOPMENTS IN TRADE IN SERVICES .875POLICY DEVELOPMENTS IN TRADE AND INTELLECTUAL PROPERTY. 100ANNEX 1 - MEASURES FACILITATING TRADE . 105ANNEX 2 - TRADE REMEDIES . 110ANNEX 3 - OTHER TRADE-RELATED MEASURES . 120ANNEX 4 - MEASURES AFFECTING TRADE IN SERVICES . 128ANNEX 5 - COVID-19 TRADE AND TRADE-RELATED MEASURES (GOODS) . 147ANNEX 6 – COVID-19 TRADE AND TRADE-RELATED MEASURES (SERVICES). 163
-2KEY FINDINGS This Report covers new trade and trade-related measures implemented by G20 economiesbetween 16 October 2019 and 15 May 2020. This period included the start of the COVID-19pandemic, which has already delivered an almost unprecedented shock to the globaleconomy and caused significant social disruption. Although the full impact of the pandemic isnot yet reflected fully in trade statistics, it is expected to be very substantial. In its trade forecast of 8 April, the WTO considered two scenarios for the crisis, onerelatively optimistic and the other more pessimistic. Under the optimistic scenario, thevolume of world merchandise trade would fall by 12.9% and world GDP would decline by2.5%. Under the pessimistic scenario, trade would contract by 31.9% and GDP would shrinkby 8.8%. As of mid-June, preliminary trade data and trade-related indicators for the firsthalf of 2020 are more consistent with the optimistic scenario than the pessimistic one, butactual outcomes could easily fall within or even outside of the forecast range, depending onhow the crisis unfolds. World trade was already slowing before the pandemic struck, weighed down by heightenedtrade tensions and slowing global economic growth. Merchandise trade was down 0.1% involume terms in 2019, marking the first decline since 2009. Trade growth also slowed innominal terms in 2019, as the dollar value of merchandise exports fell by 3% to USD 18.89trillion. Although commercial services exports increased by 2% to USD 6.03 trillion in 2019,the pace of growth was down sharply from 9% in the previous year. Overall, G20 economies implemented 154 new trade and trade related measures during thereview period of which 95 were of a trade-facilitating nature and 59 were trade-restrictive.Sixty percent of these measures (93 in total) were linked to the COVID-19 pandemic. Ofthese 93 measures, 65 facilitated trade while 28 restricted trade. In the early stages of thepandemic, several of the measures introduced by G20 economies restricted the free flow oftrade, principally for exports. But as of mid-May 2020, 70% of all COVID-19 relatedmeasures were trade-facilitating. Of the pandemic related trade restrictions recorded, exportbans accounted for more than 90%. Around 36% of the COVID-19 specific trade restrictionsimplemented by G20 economies had been repealed by mid-May. Excluding COVID-19-related measures, G20 economies implemented 61 trade and traderelated measures during the review period. These included 30 new measures aimed atfacilitating trade during the review period. The trade coverage of these non-COVID-19related import-facilitating measures implemented during the review period was estimated atUSD 735.9 billion, the highest figure for such measures since November 2014. G20economies also put in place 31 new trade-restrictive measures unrelated to the pandemic.The trade coverage for these new import-restrictive measures was estimated at USD 417.5billion - the third highest value recorded since May 2012. The trade coverage ofimport-restrictive measures has soared since May 2018 as a result of global trade tensions.It is estimated that 2.8% of G20 trade was affected by import restrictive measuresimplemented during the current review period. Import-restrictive measures implementedsince 2009 and still in force affect an estimated 10.3% of G20 imports (USD 1.6 trillion). All WTO issues regularly covered by this Report saw significant activity both before and afterthe outbreak of the COVID-19 pandemic. During the review period, 203 trade remedyactions were recorded for G20 economies. The monthly average of trade remedy actionsinitiated was slightly higher than the average for the last eight years while the monthlyaverage of trade remedy terminations was the lowest over the same time span. During thereview period, initiations of anti-dumping investigations accounted for around 80% of alltrade remedy initiations, which also includes safeguards and countervailing actions. In services, most of the new measures introduced by G20 economies between mid-October2019 and mid-May 2020 were trade facilitating, but a number of new policies appeared to betrade restrictive, including in areas related to foreign investment and in areas consideredstrategic or linked to national security. Most of the 51 services measures adopted by G20economies in response to the pandemic appeared to be trade-facilitating.
-3 G20 economies continued to implement general economic support measures as part of theiroverall trade policy, a fact confirmed by Secretariat analysis despite governments' lowresponse rate with respect to these measures. In addition, G20 economies also implementeda large number of emergency support measures in response to the economic and socialturmoil caused by the COVID-19 pandemic. Most of the 468 COVID-19 related generaleconomic support measures identified, including monetary, fiscal and financial measures aswell as preferential loans, credit guarantees, and stimulus packages, collectively worthseveral trillion US dollars, appeared to be temporary in nature. These emergency supportmeasures are central to governments’ strategies to address the pandemic-induced economicdownturn and to prepare the ground for a strong recovery. Regular monitoring of supportmeasures introduced in the context of the COVID-19 pandemic will be important forMembers to be able to track their evolution and effects as the world exits the health crisisand enters a recovery period. G20 economies continued to be very active in notifying their SPS measures, accounting for66% of all regular notifications and 35% of emergency notifications since 1995. From 1February until 15 May 2020, ten G20 economies submitted 15 SPS notifications andcommunications related to measures taken in response to the pandemic. The nature of mostof these measures has shifted, from initial restrictions on animal imports and/or transit fromaffected areas and additional certification requirements, to, as of April, trade-facilitatingmeasures such as the use of electronic certificates for checks. Similarly, G20 economies arethe most frequent users of the TBT Committee's transparency mechanisms. As of 15 May2020, G20 economies had submitted 20 COVID-19 related TBT notifications, covering a widerange of products including personal protective equipment (PPE), medical equipment,medical supplies, medicines and food. Most questions raised in the Committee on Agriculture during the review period focused onpolicies implemented by G20 economies. In relation to the COVID-19 pandemic, three WTOMembers informed the WTO of temporary measures to respond to food security threats. The Report also covers developments in G20 economies in Trade-Related Aspects ofIntellectual Property Rights (TRIPS). Several G20 members implemented specific IP-relatedmeasures aimed at facilitating the development and dissemination of COVID-19 relatedhealth technologies, as well as at relaxing procedural requirements and extending deadlinesfor administrative IP matters. Work continued in the first months of 2020 to advance negotiations, particularly on fisheriessubsidies building on the decision taken by Members at MC11. Groups of Members alsocontinued to pursue discussions on other issues, including electronic commerce, investmentfacilitation, women's economic empowerment, domestic regulation in services and, micro,small and medium-sized enterprises (MSMEs). However, delegations' ability to engage indetailed negotiations has been constrained by restrictions on movement and the refocusingof priorities on addressing the COVID-19 pandemic.
-4G20 trade-facilitating and trade-restrictive measures, mid-October 2019 to mid-May2020(By number)Note:Including COVID-19 trade and trade-related measures.Source:WTO Secretariat.G20 COVID-19 trade and trade-related measures, by mid-May 2020(By number)Source:WTO Secretariat.G20 trade and trade-related measures, mid-October 2019 to mid-May 2020(By number)2641485530Trade remedy initiationsTrade remedy terminationsMeasures facilitating tradeTrade-restrictive measuresNote:COVID-19 trade and trade-related measures are not included.Source:WTO Secretariat.31
-5Trade coverage of G20 measures, mid-October 2019 to mid-May 2020(USD billion)Note:COVID-19 trade and trade-related measures are not included.Source:WTO Secretariat.Trade coverage of new import-facilitating measures in each reporting period(not cumulative)(USD 6587332783930Note:These figures are estimates and represent the trade coverage of the measures (i.e. annual importsof the products concerned from economies affected by the measures) and not the cumulative impactof the trade measures. Liberalization associated with the 2015 Expansion of the WTO's InformationTechnology Agreement is not included in the figures. COVID-19 trade and trade-related measuresare not included.Source:WTO Secretariat.
-6Trade coverage of new import-restrictive measures in each reporting period(not cumulative)(USD 253904714347432Note:These figures are estimates and represent the trade coverage of the measures (i.e. annual importsof the products concerned from economies affected by the measures) introduced during eachreporting period, and not the cumulative impact of the trade measures. COVID-19 trade and traderelated measures are not included.Source:WTO Secretariat.Cumulative trade coverage of G20 import-restrictive measures in force since 2009(USD billion and % of world merchandise imports)(1,600)121 0 .31,400108 .81,20081,0008005 .34 .06001 ,5 6 861 ,3 2 84 .242 .64001 .520000 .76820097241 .61 .03691152 ort restrictions in force (left axis)201720182019% of G20 imports (right axis)Note:The cumulative trade coverage estimated by the Secretariat is based on information available in theTrade Monitoring Database (TMDB) on import measures recorded since 2009 and considered to havea trade-restrictive effect. The estimates include import measures for which HS codes were available.The figures do not include trade remedy measures. COVID-19 trade and trade-related measures arenot included. The import values were sourced from the UNSD Comtrade database.Source:WTO Secretariat.
-7EXECUTIVE SUMMARYThis is the twenty-third WTO Trade Monitoring Report on G20 trade measures. 1 It covers newtrade and trade-related measures implemented by G20 economies between 16 October 2019 and15 May 2020. 2 These Reports have been prepared, together with the OECD and UNCTAD, inresponse to the request by G20 leaders to monitor and report on trade and investment measuresimplemented by G20 economies. The previous Report was issued on 21 November 2019.This Report was prepared against the backdrop of the COVID-19 pandemic, which has delivered anunprecedented shock to the global economy and caused exceptional social disruption around theworld. 3 The full impact of the pandemic is not yet reflected in trade statistics but is expected to bevery substantial. In its trade forecast of 8 April, the WTO considered two scenarios for the crisis,one relatively optimistic and the other more pessimistic. Under the optimistic scenario, the volumeof world merchandise trade would fall by 12.9% and world GDP would decline by 2.5%. Under thepessimistic scenario, trade would contract by 31.9% and GDP would shrink by 8.8%. Trade isexpected to rebound in 2021 under both scenarios, but only the optimistic one would see tradereturn to its pre-pandemic trend. The forecast only covers merchandise trade, but commercialservices trade is also expected to be severely hit as a result of comprehensive travel restrictionsand social distancing measures. Preliminary trade data and trade-related indicators for the firsthalf of 2020 are thus far more consistent with the optimistic scenario than the pessimistic one, butactual outcomes could easily fall within or even outside of the forecast range, depending on howthe crisis unfolds.World trade was already slowing before the virus struck, weighed down by heightened tradetensions and slowing global economic growth. Merchandise trade was down 0.1% in volume termsin 2019, marking the first decline since 2009. Trade growth also slowed in nominal terms in 2019,as the dollar value of merchandise exports fell by 3% to USD 18.89 trillion. Although commercialservices exports increased by 2% to USD 6.03 trillion in 2019, the pace of growth was downsharply from 9% in the previous year.This Report shows that by mid-May 2020, G20 economies had implemented 93 trade and traderelated measures explicitly linked to the COVID-19 pandemic. The implementation of thesemeasures appeared to have come in two clearly identifiable waves. In the early stages of thepandemic, several of the measures introduced by G20 economies restricted the free flow of trade,principally for exports. However, as of mid-May 2020 65 (70%) of all measures were of a tradefacilitating nature, and 28 measures (30%) could be considered to have a trade-restrictive effect.Export bans accounted for more than 90% of all trade restrictions recorded. In early May, someMembers had begun to phase out export constraints targeting products such as surgical masks,gloves, medicine, and disinfectant. There is further evidence that a roll back of other trade andtrade related measures taken in the early stages of the pandemic is also taking place. Forinstance, around 36% of the COVID-19 specific restrictive measures implemented by G20economies had been repealed by mid-May.G20 economies implemented 30 new measures aimed at facilitating trade during the reviewperiod, mainly through elimination or reduction of import tariffs, elimination of import taxes andreduction of export duties. The trade coverage of the non COVID-19 related import-facilitatingmeasures implemented during the review period was estimated at USD 735.9 billion, which issignificantly higher than that recorded in the last Report (USD 92.6 billion). This is the highesttrade coverage of import-facilitating measures recorded since November 2014.The Report also shows that during the review period G20 economies implemented 31 new traderestrictive measures unrelated to the pandemic mainly through tariff increases, import bans,stricter customs procedures and export duties. The trade coverage for the new non COVID-191The WTO Trade Monitoring Reports have been prepared by the WTO Secretariat since 2009.G20 members are: Argentina; Australia; Brazil; Canada; China; European Union; France; Germany; India;Indonesia; Italy; Japan; Korea, Republic of; Mexico; the Russian Federation; Saudi Arabia, Kingdom of;South Africa; Turkey; the United Kingdom and the United States.2Unless otherwise indicated in the relevant Section.3A dedicated webpage on the WTO website(https://www.wto.org/english/tratop e/covid19 e/covid19 e.htm) provides detailed information on COVID-19trade and trade-related measures and is updated regularly.
-8related import-restrictive measures was estimated at USD 417.5 billion. This represents the thirdhighest value recorded since May 2012. The trade coverage of import-restrictive measures hassoared since May 2018 as a result of global trade tensions. It is estimated that 2.8% of G20 tradewas affected by import restrictive measures implemented during the current review period.WTO Secretariat estimates of the stockpile of import restrictions implemented since 2009, and stillin force, suggest that 10.3% of G20 imports are affected by these restrictions. At the end of 2019,USD 1.6 trillion out of a total USD 15.3 trillion of G20 imports were estimated to be affected byimport restrictions put in place by G20 economies over the last decade. The stockpile of importrestrictions by G20 economies in force has grown steadily since 2009 – in value terms and as apercentage of imports.During the review period, 203 trade remedy actions were recorded for G20 economies. Themonthly average of trade remedy actions initiated by G20 economies was slightly higher than theaverage for the last eight years while the monthly average of trade remedy terminations was thelowest over the same time span. During the review period, initiations of anti-dumpinginvestigations continued to be the most frequent trade remedy action, accounting for around 80%of all trade remedy initiations, including safeguards and countervailing actions. The trade coverageof trade remedy initiations recorded in this Report was estimated at USD 24.5 billion (higher thanthe USD 16.7 billion recorded in the last Report) and that of terminations at USD 1.9 billion (lowerthan the USD 3.8 billion recorded in the last Report). As of 15 May 2020, only two G20 membershad notified anti-dumping actions referring to the COVID-19 pandemic.With respect to general economic support measures, the Secretariat received information fromonly two G20 economies in response
1 It covers new trade and trade-related measures implemented by G20 economies between 16 October 2019 and 15 May 2020.2 These Reports have been prepared, together with the OECD and UNCTAD, in response to the request by G20 leade
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