Uncertainty over tariffs prompted the World Trade Organization to revise down its outlook for global goods trade, forecasting a contraction this year and possibly a deeper one if conditions deteriorate further,

The World Trade Organization says the volume of trade in goods worldwide is likely to decrease by 0.2% this year due to U.S. President Donald Trump’s shifting tariff policies and a standoff with China

The World Trade Organization has warned that the outlook for global trade has “deteriorated sharply” in the wake of President Donald Trump’s tariffs regime.