Aftermath of the tariff war: The possible end of the WTO, billion-dollar losses and poorer nations
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from english.elpais.com4 months ago
The increased tensions and tariffs between major economies indicate a troubling trend towards protectionism, risking the formation of rival economic blocs and trade fragmentation.
english.elpais.comhttps://english.elpais.com/economy-and-business/2024-09-14/aftermath-of-the-tariff-war-the-possible-end-of-the-wto-billion-dollar-losses-and-poorer-nations.html
The International Monetary Fund warns that continued tariff disputes could result in a long-term global GDP reduction of up to 7%, amounting to about $7.4 trillion.
english.elpais.comhttps://english.elpais.com/economy-and-business/2024-09-14/aftermath-of-the-tariff-war-the-possible-end-of-the-wto-billion-dollar-losses-and-poorer-nations.html
The potential dissolution of the WTO poses a significant risk; a recent study predicts a GDP decrease of 1 to 6.5% across all regions by 2030.
english.elpais.comhttps://english.elpais.com/economy-and-business/2024-09-14/aftermath-of-the-tariff-war-the-possible-end-of-the-wto-billion-dollar-losses-and-poorer-nations.html
As geopolitical differences and crises like Covid-19 exacerbate trade barriers, World Trade Organization statistics show nearly 27,000 interventions have occurred against international trade in the past five years.
english.elpais.comhttps://english.elpais.com/economy-and-business/2024-09-14/aftermath-of-the-tariff-war-the-possible-end-of-the-wto-billion-dollar-losses-and-poorer-nations.html
Read at english.elpais.com
#global-trade #protectionism #wto #economic-impact #geopolitical-tensions
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