Rising global trade protectionism may dent success of landmark WTO deal

Trade facilitation deal marks global consensus, aimed at simpler and easier trade regime

The success of the World Trade Organization's (WTO's) landmark Trade Facilitation Agreement (TFA), which took effect on Thursday, will depend on whether protectionism takes a turn for the better or worse.

The deal is expected to provide a needed boost to global growth by streamlining the trade regime, reducing the costs and time involved, and improving transparency. However, stronger voices against further trade liberalisation, such as of US President Donald Trump, might upset this scenario, experts said.

Part of the Bali Package of decisions agreed in 2013, the deal is supposed to be a watershed moment in WTO history. This