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- Global trade at risk due to US tariffs says WTO
Global trade at risk due to US tariffs says WTO
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The World Trade Organization (WTO) has issued a warning that global trade will decline this year due to the implementation of tariffs by US President Donald Trump. The WTO forecasts a 0.2% decline in international trade, citing "severe downside risks" that could lead to a sharper decline.
The decline is expected to be particularly steep in North America.
Tariff induced declines in goods trade weaken demand for related services such as transport and logistics, while broader uncertainty dampens discretionary spending on travel and slows investment-related services.
Ultimately, the degree to which uncertainty can be managed by firms will be a key determinant of whether the positive macroeconomic momentum observed in 2024 translates into sustained global trade growth in the coming years.
The outlook for global trade has deteriorated sharply due to a surge in tariffs and trade policy uncertainty.
Trump's tariffs
- Donald Trump Announces 90-Day Tariff Reduction with China
- US and China Reach New Agreement on Tariffs After Ongoing Trade Negotiations in Geneva
- Donald Trump Proposes Significant Reduction in China Tariffs Amid Ongoing Trade Negotiations
sources
perspectives
- 1.US under Donald Trump
- 2.Chinese Foreign Policy
- 3.US-China Relations
- 4.Immigration to the US
- 5.US Economy
- 6.Inflation
- 7.Trade Agreement
- 8.World Economy
- 9.US-India relations
- 10.Mexico under Claudia Sheinbaum
- 11.US-EU relations
- 12.United States–Mexico–Canada Agreement
