Global trade is stalling as Trump's tariff fights drag on, WTO warns - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Global trade is stalling as Trump's tariff fights drag on, WTO warns

Global shipments of goods between countries remained at a sluggish pace in recent months as tariffs raised costs and cast uncertainty on businesses, the World Trade Organization warned Monday.

The global trade referee said its leading indicator of global trade inched up slightly at the start of fall but held far below its baseline. Merchandise trade rose just 0.2% year-on-year in the second quarter of 2019, according to the latest trade volume indices, compared with 3.5% in the same quarter of last year.

"Goods trade has stalled in recent months," the WTO said. "Some components of the barometer have stabilized since the last reading in August, while others remain on a downward trajectory reflecting heightened trade tensions and rising tariffs in key sectors."In October, the International Monetary Fundthat trade tensions could slow global economic growth to its weakest pace since the financial crisis a decade ago.

"The weakness in growth is driven by a sharp deterioration in manufacturing activity and global trade, with higher tariffs and prolonged trade policy uncertainty damaging investment and demand for capital goods," said Gita Gopinath, the IMF's chief economist.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Mars' plan to fix a 'broken' global supply chain with $1 billion - Business InsiderMars CEO says the global supply chain is 'broken.' Now, the $35 billion food industry giant is investing $1 billion to fix it.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Trump hails 'cash' to farmers from US aid package in China trade war - Business InsiderThe Department of Agriculture said on Friday it will begin making a second round of 2019 trade aid payments to US farmers next week.
Source: BusinessInsider - 🏆 729. / 51 Read more »