WTO ruling coming later today
The WTO allows a country to take "any action which it considers necessary for the protection of its essential security interests."
That line has opened a can of worms in the global trading system. Most recently, it's been used extensively by Trump to put tariffs on aluminum, steel and potentially much more.
The case today surrounds Russia and Ukraine after the former restricted shipments through its territory to Kazakhstan and Kyrgyzstan. The unique factor here is that Russia and Ukraine are in a genuine military dispute over the border.
Still, the result will be closely watched for a clue on how panels will rule relating to a coming complaint against the US from Canada, the European Union, Mexico and a half-dozen other US trade partners.
On the flipside, if the ruling is upheld, the WTO may lose all its ability to regulate global trade because virtually anything can be classified as "necessary for the protection of its essential security interests."
