commons. time for a look at the business news now. we start with the unfolding crisis in the red sea and concerns that the continued attacks on cargo ships by yemen s houthi rebels will affect developing countries the hardest. that s the warning from the world trade organization. today the us has launched a fourth round of airstrikes against the rebels the us military said it targeted missiles that could be intended for attacks on ships. as vessels divert to longer and more costly routes that avoid the red sea, supply chains have been disrupted and economists have warned it could add to inflation. the wto s director general, dr ngozi 0konjo iweala, has been speaking to our economic editor faisal islam at the world economic forum in switzerland. iamjoined i am joined here by the director general of the world trade organization. thank you forjoining 0rganization. thank you forjoining the bbc. 0bviously people are concerned about the fluidity of trade given this big geopolitic
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Congress routinely engages in targeted, short-term tariff cuts through “miscellaneous tariff bills.” Although conventional wisdom says that unilateral tariff cuts are politically impossible, these bills show that it is possible to reduce tariffs given the right political environment. Proponents of such tariff cuts argue that the cuts support U.S. jobs; critics argue that the economic value of miscellaneous cuts is modest, and that the process is open to abuse because it requires companies that want a tariff cut to ask their legislator to introduce a specific bill on their behalf.
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