WTO, citing tariffs, says global trade outlook for 2025 has ‘deteriorated sharply’

Amid a raft of new tariffs and the ensuing uncertainty, the global trade outlook has “deteriorated sharply,” the World Trade Organization said on Wednesday in a new report, finding that the volume of goods trade is expected to be almost three percentage points lower that it would have been before recent trade policy changes. The WTO on Wednesday released its latest Global Trade Outlook and Statistics report, which assessed the outlook for 2025 and 2026 based on the environment as...