Increased trade policy uncertainty and prospects of new tariffs could weigh on global trade in the medium term, the World Trade Organisation said on Wednesday.
According to the Goods Trade Barometer of the global trade regulating body, global goods trade appeared to remain steady in the fourth quarter of 2024 and looked set to continue growing in the first months of 2025.
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"However, increased trade policy uncertainty and the prospect of new tariffs could weigh on trade in the medium term," it said.
US President Donald Trump has announced new tariffs against countries, including China and Canada. These countries also have announced retaliatory duties, leading to a trade war.
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