WTO says trade tensions starting to affect global economy

4 Jul, 2018 15:59 / Updated 6 years ago

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.