GENEVA -- The World Trade Organization has lowered its global trade growth forecast for this year by one-half percentage point to a still-robust 3.9 per cent, saying increased trade tensions between large economies and heightened uncertainty contributed to the downgrade.
For next year, the Geneva-based trade body predicts a further slowing of growth in volume terms, to 3.7 per cent.
WTO Director General Roberto Azevedo said Thursday: "While trade growth remains strong, this downgrade reflects the heightened tensions that we are seeing between major trading partners."
The WTO cited new trade measures targeting exports from "large economies," a clear allusion to U.S. tensions with some key trading partners.
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