World trade shrank by 0.3 percent in the fourth quarter of 2018 and is likely to grow by 2.6 percent this year, below a previous forecast of 3.7 percent.
World trade shrank by 0.3 percent in the fourth quarter of 2018 and is likely to grow by 2.6 percent this year, slower than 3.0 percent growth in 2018 and below a previous forecast of 3.7 percent, the World Trade Organization said on Tuesday.
WTO chief economist Robert Koopman said worse may be to come, with an even bigger impact if U.S. President Donald Trump goes ahead with a plan to impose high tariffs on global imports of cars later this year. The WTO did not make a specific prediction about the impact of Brexit, but Koopman said in the worst case it would help push global trade growth down to the bottom end of the WTO's forecast range in 2019, 1.3 to 4.0 percent.
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