WTO warns of trade crisis as German car bosses face U.S. tariff talks



Edward Taylor | Reuters

WOLFSBURG, Germany (Reuters) – The global system of international trade is in crisis, the World Trade Organization (WTO) warned on Tuesday, as German car bosses gathered in Washington hoping to stave off potential tariffs on U.S. imports of luxury cars. Top officials from Daimler (DAIGn.DE), BMW (BMWG.DE) and Volkswagen (VOWG_p.DE) have been summoned to the United States to meet White House economic adviser Larry Kudlow to discuss U.S. efforts to rebalance global trade. The meeting comes after months of warnings from U.S. President Donald Trump that he might impose big tariffs on imported cars, and days after he agreed a truce in a broader trade war with China. Read more here