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WTO cuts outlook for global trade growth to lowest in a decade

Bloomberg
Bloomberg10/1/2019 06:24 PM GMT+08  • 3 min read
WTO cuts outlook for global trade growth to lowest in a decade
(Oct 1): The World Trade Organization cut its global trade growth forecast for this year to the weakest level in a decade, warning that further rounds of tariffs in an environment of heightened uncertainty could spark a “destructive cycle of recriminati
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(Oct 1): The World Trade Organization cut its global trade growth forecast for this year to the weakest level in a decade, warning that further rounds of tariffs in an environment of heightened uncertainty could spark a “destructive cycle of recrimination.”

The volume of merchandise trade will increase by 1.2% this year and 2.7% next year, after a 3% advance in 2018, the WTO said in a report published Tuesday.

The outlook marks a sharp downgrade from the WTO’s previous projections in April, when the Geneva-based organization predicted a 2.6% gain in global trade in 2019 and 3% the following year. It also underscores the risks facing international commerce as the U.S. threatens more tariffs on Chinese imports and prepares new, WTO-sanctioned levies on goods from the European Union.

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