Global Trade Growth Slashed Again As Trade Tensions Persist

Thursday, April 4, 2019
By Paul Martin

by Tyler Durden
ZeroHedge.com
Thu, 04/04/2019

The World Trade Organization published a new report that shows world trade is projected to “face strong headwinds” into 2020.

WTO economists expect merchandise trade volume growth to drop to 2.6% in 2019, down from 3% last year. The report said a rebound in global trade is possible if trade tensions dramatically ease.

The bearish forecast for 2019/2020 marks the second consecutive year that WTO economists revised their outlook and also follows similar warnings from the World Bank and the International Monetary Fund.

“With trade tensions running high, no one should be surprised by this outlook. Trade cannot play its full role in driving growth when we see such high levels of uncertainty,” WTO Director-General Roberto Azevedo said in a statement in Geneva.

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