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US tariffs will make global trade shrink, says WTO
The World Trade Organization (WTO) has forecast that global trade will fall this year because of US President Donald Trump's tariffs. It added "severe downside risks", including reciprocal tariffs and political uncertainty, could lead to an even sharper decline in global goods trade.
The W.T.O. said that services accounted for more than a quarter of global trade last year, and expanded by 9 percent in 2024 compared with the year prior. Although tariffs only apply to goods, ...
The World Trade Organization sharply cut its forecast for global merchandise trade from solid growth to a decline, saying ...
Like all taxes, the tariffs will discourage beneficial economic activity and will make Americans poorer and worse off.
The sweeping policy change for US tariffs announced yesterday by President Trump is a game changer for the global economy.
Tariffs are tools that must be used wisely. While they can protect domestic industries and jobs, they may also raise prices, trigger trade wars and slow economic growth. Their impact depends on how ...
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