 WTO symbol in Geneva, Switzerland (photo: Xinhua/ VNA) |
In its updated trade outlook released on Friday, the WTO warned that recent tariff adjustments will have a negative impact on global trade prospects. Higher "reciprocal tariff" rates introduced by the United States on Aug. 7 are expected to weigh increasingly on US imports and depress exports of US trading partners in the second half of 2025 and in 2026, the WTO said.
Asian economies are projected to remain the largest positive driver of global merchandise trade growth this year, while North America is forecast to drag down growth in 2025 and 2026.