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Global trade could slide this year because of Trump's tariff policies: WTO
April 17, 2025
|The Business Guardian
The World Trade Organisation says the volume of trade in goods worldwide is likely to decrease by 0.2 per cent this year due to US President Donald Trump's shifting tariff policies and a standoff with China, but it would take a more severe hit if Trump carries through on his toughest "reciprocal" tariffs.
The decline in trade will be particularly steep in North America even without the stiffest tariffs, the global trade forum said Wednesday, with exports there this year expected to fall by 12.6 per cent and imports by 9.6 per cent.
The WTO based its report on the tariff situation as of Monday. Initially, 2025 and 2026 were expected to have continued expansion of world trade, but Trump's trade war forced WTO economists to substantially downgrade their forecast, the forum said.
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