Ethiopia: Nation's Draft Trade Policy Signals Readiness for WTO Membership

Ethiopia: Nation's Draft Trade Policy Signals Readiness for WTO Membership

ADDIS ABABA -- Ethiopia's new draft trade policy demonstrates the country's preparedness to join the World Trade Organization (WTO) in the near future, according to the Ministry of Trade and Regional Integration (MoTRI).

The World Trade Organization (WTO), on April 3, projected a 1% drop in global trade, a direct result of the aggressive tariff policy promoted by the government of Donald Trump. READ US Markets ALSO suffer their worst day since the pandemic after Trump tariffs The director of the agency, Ngozi Okonjo-Iweala, warned about the risk of a spiral of retaliation that would aggravate the economic slowdown. The United States, in a unilateral movement, ex…

WTO director-general: U.S. tariffs expected to contract global trade

The new tariffs announced by President Trump this week could lead to a significant “downward revision” in global trade projections, the World Trade Organization director-general said on Thursday, warning that escalation into a cycle of retaliation could make the effects even worse. Ngozi Okonjo-Iweala, in a statement, said numerous governments had reached out to the WTO with questions related to the impact of the new duties, both on their econom…

The situation could escalate with possible retaliation to a customs war, which would further affect trade, warns the WTO leader.

Trump Tariffs Could Cause Global Trade Drop By 1% In 2025 Warns WTO

US President Donald Trump's worldwide tariff salvo could lead to an overall contraction of around 1 percent in global merchandise trade volumes this year, the WTO chief warned Thursday. After Trump on Wednesday unveiled a blitz of harsher-than-expected levies aimed at countries around the globe, Ngozi Okonjo-Iweala warned the measures would "have substantial implications for global trade and economic growth prospects". Trump slapped 10 percent …

WTO says tariffs could bring contraction of 1% in global merchandise trade volumes

(Reuters) - The Director-General of the World Trade Organization said new tariffs announced by the U.S. along with those introduced at the start of the year could lead to a contraction of around 1% in global merchandise trade volumes in…