Trade Between U.S., China Could Decrease By As Much As 80%, WTO Chief Warns

The World Trade Organization has issued a stark warning over the growing U.S.-China trade tensions. According to WTO estimates, the ongoing tariff war could slash bilateral trade of goods by up to 80%. Beyond this, the WTO cautions that dividing the global economy into two rival blocs could shrink global real GDP by nearly 7% in the long run. As the world’s two largest economies lock horns, the ripple effect could severely damage the broader global economic outlook.