Growth in merchandise trade may fall sharply this year amid tariff war: WTO1 min read . Updated: 01 Oct 2019, 10:56 PM IST
- The projected sharp fall in international trade is largely attributed to US trade wars against China and other countries
- The WTO’s highest adjudicating body for global trade disputes is set to become non-functional from 11 December due to a continued obstructive position adopted by the US
Global merchandise trade volume is estimated to grow by only 1.2% in 2019 due to mounting trade tensions and a slowing world economy, World Trade Organization (WTO) economists said on Tuesday. In April, the economists had pegged volume growth for 2019 at 2.6%—down from 3.0% in 2018.
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