China-US trade could plunge by 80% this year, WTO warns

China-US trade could plunge by 80% this year, WTO warns

Such a decline would amount to a decoupling of the two economies, says director-general Ngozi Okonjo-Iweala

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Bilateral trade between China and the United States is likely to fall by up to 80 percent due to tariffs

The World Trade Organization (WTO) has issued a stern warning about the collapse of trade between the world's two largest economies — the United States and China — in the wake of the tariff war renewed by former US President Donald Trump. According to estimates presented by WTO Director-General Ngozi Okonjo-Iweala, bilateral trade volume could fall by as much as 81— 91% if exceptions are not applied for essential technological products such as s…

WTO Warns US Tariffs Threaten 2025 Global Trade Contraction Amid US-China Decoupling Crisis

The World Trade Organisation (WTO) has issued a dire update to its global trade forecast, projecting a 0.2% decline in merchandise trade for 2025—a sharp reversal from its previous 2.7% growth estimate. The downgrade follows the implementation of aggressive U.S. tariffs, including baseline 10% levies on nearly all imports and rates exceeding 100% on specific Chinese goods. WTO Director-General Ngozi Okonjo-Iweala emphasised that reinstating susp…

Milan, April 16 (askanews) - According to the World Trade Organization, global trade should collapse this year following the tariff offensive of US President Donald Trump. “I am very concerned,” the president of the WTO Ngozi Okonjo-Iweala told reporters in Geneva, adding that the organization expects trade volumes between the United States and China to fall by as much as 81 percent. “My level of concern has increased. I am very concerned for al…