The World Trade Organization says world economic growth is "in jeopardy" as the US, European Union and China threaten trade tit-for-tat trade sanctions.
- WTO in its report on trade between the 20 largest economies in the world
Just doing a scan of some overnight headlines and while this is hardly a fresh insight, its from the BBC and indicates growing wariness. This will impact on consumers and is not a positive.
More from the piece:
- "The worrying trend is the increase in trade restrictive measures which has come at a time of increasing trade tensions and associated rhetoric"
- In the seven months between October 2017 and May 2018 G20 countries imposed 39 new "trade restrictive" measures including taxes on imports
- "At a juncture where the global economy is finally beginning to generate sustained economic momentum following the financial crisis, the uncertainty created by a proliferation of trade restrictive practices could place the economic recovery in jeopardy."
- "Further escalation could carry potentially large risks for the system itself.
