WTO Warns Trump's Tariffs Could Cut Global Trade by 1 Percent

» Published: April 03 2025

WTO Warns Trump's Tariffs Could Cut Global Trade by 1 Percent
Photo: Salvatore Di Nolfi/Keystone/AP/TT

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The global tariff regime that US President Donald Trump has decided on can lead to a total decline of around 1 percent in global trade volumes this year, warns the World Trade Organization (WTO) on Thursday.

"I am deeply concerned about this decline and the potential for escalation into a trade war with a cycle of retaliatory measures leading to further declines in trade", says WTO chief Ngozi Okonjo-Iweala, from Nigeria, in a statement.

Trump announced comprehensive import tariffs against countries and other counterparts in global trade at a press conference at the White House late on Wednesday evening Swedish time.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers
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