World Trade Organization: If the United States increases tariffs, the global economy could experience a 1.5% decline in 2025

The World Trade Organisation said it cut its forecast for global merchandise trade growth in 2025 to minus 0.2 per cent from 3.0 per cent. If the US increases tariffs, the global economy could experience a 1.5 per cent decline in 2025, with spillover effects. A modest recovery in merchandise trade is expected in 2026, with growth of 2.5 per cent. (Jin Ten)