GENEVA, September 2. /TASS/. World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala warned that world trade could experience the effects of US tariffs "later down the line" into 2026, as the recent surge in global commerce - driven by frontloading of goods during the first half of the year - begins to subside, Reuters reported.
"Possibly down the line, we'll begin to see some other impacts, as the goods in the warehouses are exhausted, and impacts begin to come in, but we'll see next year," she told Reuters. She added that this year WTO economists still expect "some growth."
In August, the WTO experts adjusted the forecast for the development of global trade turnover in 2025. After the first wave of American tariffs in April, they predicted a 0.2% decline this year, but now they expect it to grow by 0.9%. WTO economists also lowered their forecast for global trade growth in 2026 to 1.8%, compared to the previously expected 2.5%.
On April 2, US President Donald Trump announced the introduction of tariffs on goods from 185 countries and territories. On August 1, he signed a decree introducing tariffs of 15% to 41% for more than 60 countries and the European Union. They came into force on August 7. The highest tariffs are assigned to Syria (41%), Laos (40%), Myanmar (40%), Switzerland (39%), Iraq (35%) and Serbia (35%).