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tag: OMC

download (5).jpg 20 January 2023

Tariff outlook 2023

After three years of global tariff hikes, the weakness of international trade could lead to a reduction in tariffs this year, especially in intermediate goods. According to the International Monetary Fund, the sectors with the greatest potential reductions in tariff costs on imports will be vehicles, machinery and equipment. Tariff reductions at product level would range from 0 to 18.5 percentage points and will be higher on average for China.

 

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image1170x530cropped.jpg 10 October 2022

WTO anticipates sharp slowdown in world trade growth in 2023

Global trade is expected to lose momentum in the second half of 2022 with merchandise trade volumes predicted to decline in 2023, according to a new report from @wto, World Trade Organization, economists. The UN partner agency has cautioned against imposing trade restrictions which would ultimately result in slower growth and lower living standards. 

 

 

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download (5).jpg 13 June 2022

"Decoupling" supply chains could lead to a 5% decrease in global GDP, according to the WTO

The WTO chief warns against the economic cold war: Ngozi Okonjo-Iweala tells POLITICO that now is not the time to withdraw from global trade and warns that the division of supply chains for political reasons would be detrimental to the world economy.  A recent study shows that dividing the world into two separate economic blocs could "lead to a 5% decrease in global real GDP in the long term," she said. "This is a really staggering number."

 

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