São Paulo – The World Trade Organization (WTO) has substantially changed down its 2019 global trade forecasts as a result of the United States-China trade war, among other factors. The WTO released its updated forecasts on Tuesday (1st).
The WTO expects worldwide trade in goods to increase by 1.2% in 2019. This is significantly down from April’s 2.6% forecast, and much less than the 3% growth seen in 2018. WTO delegates mentioned mounting US-China trade tensions and uncertainty surrounding the United Kingdom’s European Union exit plans.
Translated by Gabriel Pomerancblum
