The growth of world merchandise trade is expected to slow down in 2019, falling to 2.6 per cent, has warned today the chief of the WTO, taking the view that it is “increasingly urgent” to resolve the “tensions” commercial.
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In September, the world trade Organization (WTO) had already lowered its forecasts for world trade growth to 2019 to 3.7%. “It is increasingly urgent that we solve the tensions,” said the director of the gendarme of world trade, Roberto Azevedo, during the annual presentation of prospects of trade in the world. “In a context of trade tensions exacerbated, these perspectives are not surprising. The trade can not fully play its role of engine of growth when uncertainty levels are too high”, he added.
The Geneva-based organization is also expected that the trade growth to rebound in 2020 to 3.0%, “provided, however, that trade tensions subside”. This appeal to the WTO comes as Beijing and Washington are slow to put an end to their trade war initiated in the past year. The conflict of customs was confirmed by customs duties, punitive reciprocal of hundreds of billions of dollars of goods.
