In a long-anticipated ruling, the World Trade Organization has just ruled that President Trump's tariffs on Chinese imports violate established trade rules, suggesting that the international body, which was established by the West in the 1990s following the trade wars of the 1980s, has joined China and the EU in turning against the US.
However, though the ruling likely grabbed investors' attention, the decision is effectively toothless, since the US can lodge an appeal any time during the next 60 days. According to Bloomberg, thanks to changes to the appeals process made by the US, doing so would effectively stymie any further action.
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