Photo: BloombergGeneva: World trade growth is likely to be slower than previously thought in 2018 and 2019, although the direct economic effects of a trade war that has blown up this year have been modest so far, the World Trade Organization said on Thursday. The WTO forecast world trade in goods would grow by 3.9% this year, less than the 4.4% it forecast in April. Next year trade growth of 3.7% is expected, a cut from the WTO’s previous forecast of 4.0%. “The direct economic effects of these measures have been modest to date but the uncertainty they generate may already be having an impact through reduced investment spending,” the WTO statement said. “While trade growth remains strong, this downgrade reflects the heightened tensions that we are seeing between major trading partners,” the statement quoted Azevedo as saying.

Source: Mint September 27, 2018 10:41 UTC