{"id":231678,"date":"2025-04-03T15:43:19","date_gmt":"2025-04-03T19:43:19","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=231678"},"modified":"2025-04-03T15:51:40","modified_gmt":"2025-04-03T19:51:40","slug":"us-tariffs-could-shrink-global-merchandise-trade-volumes-1-in-2025-wto","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/us-tariffs-could-shrink-global-merchandise-trade-volumes-1-in-2025-wto\/","title":{"rendered":"US tariffs could shrink global merchandise trade volumes 1% in 2025: WTO"},"content":{"rendered":"
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 (AFP)\u2014<\/strong>US President Donald Trump\u2019s worldwide tariff salvo could lead to an overall contraction of around 1 percent in global merchandise trade volumes this year, the WTO chief warned Thursday.<\/p>\n\n\n\n

After Trump on Wednesday unveiled a blitz of harsher-than-expected levies aimed at countries around the globe, Ngozi Okonjo-Iweala warned the measures would \u201chave substantial implications for global trade and economic growth prospects\u201d.<\/p>

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Trump slapped 10 percent import duties on all nations and far higher levies on imports from dozens of specific countries \u2014 including top trade partners China and the European Union \u2014 adding to tariffs already imposed since his return to power in January.<\/p>

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\u201cWhile the situation is rapidly evolving, our initial estimates suggest that these measures, coupled with those introduced since the beginning of the year, could lead to an overall contraction of around 1 percent in global merchandise trade volumes this year,\u201d the World Trade Organization director-general said in a statement.<\/p>\n\n\n\n

This, she said, would represent a drop of nearly four percentage points from the WTO\u2019s previous projection.<\/p>

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Okonjo-Iweala urged WTO members to manage the tensions resulting the US measures responsibly.<\/p>\n\n\n\n

\u201cI\u2019m deeply concerned about this decline and the potential for escalation into a tariff war with a cycle of retaliatory measures that lead to further declines in trade.\u201d<\/p>

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Okonjo-Iweala stressed that despite the US measures \u201cthe vast majority of global trade\u201d still flows under WTO\u2019s so-called Most-favoured-nation (MFN) status, which bars countries from discriminating between their trading partners.<\/p>

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\u201cOur estimates now indicate that this share currently stands at 74 percent, down from around 80 percent at the beginning of the year,\u201d she said.<\/p>\n\n\n\n

\u201cWTO members must stand together to safeguard these gains.\u201d<\/p>\n\n\n\n

Okonjo-Iweala highlighted the fact that \u201cthe WTO was established to serve precisely in moments like this \u2014 as a platform for dialogue, to prevent trade conflicts from escalating, and to support an open and predictable trading environment\u201d.<\/p>\n\n\n\n

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CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP  (AFP)\u2014US President Donald Trump\u2019s worldwide tariff salvo could lead to an overall contraction of around 1 percent in global merchandise trade volumes this year, the WTO chief warned Thursday. After Trump on Wednesday unveiled a blitz of harsher-than-expected levies aimed at countries around the globe, Ngozi Okonjo-Iweala […]<\/p>\n","protected":false},"author":12,"featured_media":231679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-231678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nUS tariffs could shrink global merchandise trade volumes 1% in 2025: WTO - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/us-tariffs-could-shrink-global-merchandise-trade-volumes-1-in-2025-wto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US tariffs could shrink global merchandise trade volumes 1% in 2025: WTO\" \/>\n<meta property=\"og:description\" content=\"CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP  (AFP)\u2014US President Donald Trump\u2019s worldwide tariff salvo could lead to an overall contraction of around 1 percent in global merchandise trade volumes this year, the WTO chief warned Thursday. 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