Trade Tensions to hit Goods Growth in Fourth Quarter as Tariffs bite – WTO

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Geneva – The World Trade Organisation (WTO) said on Monday that growth in global goods trade is expected to remain “below trend” in the fourth quarter amid tensions and rising tariffs in key sectors.

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Its latest quarterly barometer showed growth in global merchandise trade rose by 0.2 per cent in the second quarter of this year, against 3.5 per cent in same period of 2018.

“Some components of the barometer have stabilised since the last reading in August while others remain on a downward trajectory, reflecting heightened trade tensions and rising tariffs in key sectors,’’ it said.

Air freight, raw materials and electronic components indices “all deteriorated further below trend”, with electronic components weakest amid tariff hikes while automotive products and container shipping have firmed up, it said.

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