The World Trade Organization (WTO) has more than halved its growth forecast for international trade this year. Trade should only increase by 1.2 percent, the WTO said today, justifying the tariff conflicts that unsettled the global economy. So far, she had expected 2.6 percent growth.
For 2020, the plus will be 2.7 percent lower than last estimated at three percent. A disorderly EU exit from the UK could have a significant impact, although it is likely to be largely confined to Europe.