It forecast in September that 2018 growth would be 3.9%, down from 4.6% in 2017. "US-China trade is about 3% of global trade. Automobile trade globally is about 8% of global trade. So you can imagine that the impact of automobile tariffs is going to be bigger than the impact of the US-China trade conflict. Although the volume of global trade grew only slowly in 2018, the dollar value rose 10% to $19.48 trillion, partly because oil prices rose 20%, the WTO said.

Source: Mint April 02, 2019 11:03 UTC