WTO warns trade wars threaten living standards and jobs

Sun Online Desk

2nd October, 2019 04:01:18 printer

WTO warns trade wars threaten living standards and jobs

 

The World Trade Organization has slashed its forecast for trade growth this year by more than half, warning the slowdown could hit living standards and jobs.

The WTO said it expected trade volumes to grow by just 1.2% in 2019, down from the 2.6% it predicted in April.

It also cut its global economic growth forecast from 2.6% to 2.3%.

It blamed the downgrades on slower growth in major economies, trade wars and ongoing uncertainty over Brexit.

 

 


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