WTO says global trade could slide this year because of Trump’s tariff policies

Ngozi Okonjo-Iweala, left, Director-General of the WTO talks to the media about this WTO’s “Global Trade Outlook and Statistics – April 2025” during a press conference at the headquarters of the World Trade Organization in Geneva, Switzerland, Wednesday, April 16, 2025. (Martial Trezzini/Keystone via AP)

The World Trade Organisation (WTO) says the volume of trade in goods worldwide is likely to decrease by 0.2% this year because of US President Donald Trump’s shifting tariff policies and a stand-off 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 on Wednesday, with exports there this year expected to fall by 12.6% and imports by 9.6%.