The WTO runs 74% of the world’s trade, while at the beginning of the year this figure is about 80% due to recent tariffs.
The new tariffs have announced the United States, along with the years introduced at the beginning of the year, could lead to a reduction in world trade in the goods of about 1% in 2025. Reuters.
According to him, tariffs can lead to significant consequences in the form of a trade reorientation.
The WTO administers 74% of the world’s trade, while at the beginning of the year this figure is about 80% due to recent tariffs.
Earlier, Podjo-Equura informed the member states in a letter that many questions about tariffs were received at the WTO.
“Many of you have contacted the US announcement of tariffs and asked the secretary to provide an economic analysis of the influence of these tariffs and any potential reaction to your trade,” he wrote.
Observers say US determination can double the WTO background tariffs and its mandate in the field of free trade.
Remember, on Wednesday, April 2, Trump announced the introduction of major duties to imported goods. He called it America’s “Day of Liberation”.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.