WTO Warns Trump’s Tariffs Pose Risks to Global Trade
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The World Trade Organization (WTO) has released a new forecast warning that tariffs rolled out by the Trump administration have deteriorated global trade. The report projects a 0.2% contraction in trade in goods, a significant drop from the 2.7% growth projected earlier and last year’s 2.9% growth. North America is expected to see a major decline of 12.6% in goods trade this year. The WTO added that there is a risk of a further 1.5% decline if suspended tariffs are reinstated.
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