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The Steel Rule That Rewrote Global Trade
Season 1
Episode 26
Published 1 month, 1 week ago
Description
In this episode, Lucas and Luna explore how a single obscure World Trade Organization rule — the 'national treatment' principle — forced a major country to dismantle a protectionist steel policy that had been in place for 17 years. They trace the origins of the dispute to a 2016 complaint by South Korea and Japan, and explain how the ruling reshaped supply chains for automotive steel across three continents. Listeners will learn why a seemingly minor clause in the General Agreement on Tariffs and Trade (GATT) can upend industries worth billions.