Stock

WTO chief warns of catastrophic global growth consequences amid trade wars

Investing.com — The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, issued a stark warning against potential trade wars on Thursday. During a debate at the World Economic Forum in Davos, Okonjo-Iweala discussed the potential fallout from retaliatory trade measures such as those threatened by U.S. President Donald Trump.

The WTO chief emphasized the severe global implications of tit-for-tat trade wars. She stated that if such a situation were to arise, with tariffs ranging from 25% to 60%, the world could return to the economic conditions of the 1930s. This scenario, she warned, could lead to double-digit losses in global GDP, which would be catastrophic for worldwide economic growth.

“Everyone will pay,” Okonjo-Iweala said, underlining the universal impact of such trade disputes. Her comments come amidst growing concerns about escalating trade tensions and their potential to disrupt global economic stability.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com

    Sign up and get the scoop before anyone else—fresh updates, and secret deals, all wrapped up just for you. We're talking juicy tips, fun surprises, and invites to events you actually want to go to. Don’t just watch from the sidelines—jump in and be part of the magic!

    By signing up, you're cool with getting emails from us. Don’t worry—your info stays safe, sound, and strictly confidential. No spam, no funny business. Just the good stuff.

    The Traders Intelligence
    Privacy Overview

    This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.