Wto Slashes 2025 Trade Growth Forecast, Warns Of Deeper Slump
The World Trade Organisation sharply cut its forecast for global merchandise trade from solid growth to a decline on Wednesday, saying further US tariffs and spillover effects could lead to the heaviest slump since the height of the COVID pandemic.
The WTO said it expected trade in goods to fall by 0.2 this year, down from its expectation in October of 3.0 expansion.
It said its new estimate was based on measures in place at the start of this week.
Im very concerned, the contraction in global merchandise trade growth is of big concern, WTO Director General Ngozi Okonjo-Iweala told reporters in Geneva.
US President Donald Trump imposed extra duties on steel and car imports as well as more sweeping global tariffs before unexpectedly pausing higher duties on a dozen economies.
