WTO says trade will slide due to global tariff turmoil

Donald Trump’s tariff plans will cause global trade to shrink this year, the World Trade Organisation said yesterday as it warned of “unintended consequences” from the changes.

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Trade declines will be particularly steep in North America even without the stiffest tariffs, it said, with exports there expected to fall this year by 12.6 per cent and imports by 9.6 per cent.

It said the volume of trade in goods worldwide is likely to decrease by 0.2 per cent during 2025 because of Mr Trump’s shifting tariffs and his standoff with China – and could drop further if he follows through on his threatened toughest “reciprocal” tariffs.