WTO says trade tensions starting to affect global economy

Trade barriers erected by major economies could jeopardize the global economic recovery and their effects are already starting to show, according to the World Trade Organization (WTO). In a report on trade restrictions among G20 nations, published on Wednesday, it said that “this continued escalation poses a serious threat to growth and recovery in all countries.” WTO Director General Roberto Azevedo said that “we are beginning to see this reflected in some forward-looking indicators.” In May, the WTO’s quarterly trade outlook indicator suggested trade would grow slower in the second quarter than in the first.