WTO Chief Warns Trump Tariff War Risks 7% Global GDP Hit
6 Articles
6 Articles
WTO chief warns Trump tariff war risks 7% global GDP hit
WTO Director-General Ngozi Okonjo-Iweala cited WTO modeling showing that allowing the multilateral rules-based system to erode further under retaliatory tariffs could trigger a 20% collapse in global trade.
The World Trade Organization (WTO) placed the multilateral trading system at a turning point in the face of changes in the global economic structure, increased government interventions and geopolitical tensions, such as in the Middle East, which have complicated cooperation among countries. According to the World Trade Report 2026, a strengthening of multilateral rules could raise 2.9% of world GDP and 17.9% of exports by 2050. In contrast, furt…
The WTO annual report for the first time shows the price of the erosion of the multilateral trading system. Fragmentation would cost between 5% and 10% of world GDP by 2050.
WTO Report Warns of Up to 10% GDP Loss if Multilateral Trade Erodes - Cargo Insights
The World Trade Report 2026 warns that erosion of the multilateral trading system could cost the global economy up to 10 per cent of real GDP, while stronger cooperation could raise global GDP by 2.9 per cent. The World Trade Organisation has published its World Trade Report 2026, titled “A Critical Juncture for the World [...]
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