Tariff war: WTO projects merchandise trade volume to contract in 2025

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Tariff war: WTO projects merchandise trade volume to contract in 2025 - Business Standard

Quick Summary:

India's exports in value terms grew 2.6 per cent in 2024, while imports rose 6.

In the adjusted forecast, North America now subtracts 1.7 percentage points from global merchandise trade growth in 2025, turning the overall figure negative.

The combined contribution of other regions — Africa, the Commonwealth of Independent States (CIS), including certain associate and former member states, the Middle East, and South and Central America and the Caribbean — also declines but remains positive.“The disruption in US–China trade is expected to trigger significant trade diversion, raising concerns among third markets about increased competition from China.