WTO Sees Signs Of Trade Tensions Starting To Affect Global Economy
Trade barriers being erected by major economies could jeopardise the global economic recovery and their effects are already starting to show, the World Trade Organization said in a report on trade restrictions among G20 nations.
"This continued escalation poses a serious threat to growth and recovery in all countries, and we are beginning to see this reflected in some forward-looking indicators," WTO Director General Roberto Azevedo said in a statement.
He did not elaborate, but in May the WTO's quarterly trade outlook indicator suggested trade would grow slower in the second quarter than in the first.
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