Elimination of trade barriers on hold

SAN FRANCISCO: Federal Reserve Governor Jerome Powell said on Friday that while there are still barriers to world trade that could be eliminated, it looks like that process could be on hold "for some time," making it tougher to reverse the slowdown in world trade in recent years.

Powell declined to comment on how potentially higher tariffs on China might impact trade, saying he cannot speculate on what policies may or may not be pursued under a new U.S. administration.