World Trade Organization forecasts a 7% decline in the global economy.

10.04.2025 12:01

The Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, stated that the tax tensions between the United States and China could reduce trade between the two countries by 80%. The WTO official also mentioned that this could lead to a 7% decrease in global GDP.

Sure! Here is the translated text while preserving the original HTML structure, including the translation of the `title` and `alt` attributes within any `img` tags (though there are none in the provided text):



```html

The standoff between the US and China shows no signs of stopping. The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, made a concerning statement regarding the trade wars that global economies are closely monitoring. The WTO official warned that the escalating trade tensions between the US and China could lead to a sharp contraction of up to 80% in goods trade between the two countries and a long-term decrease of about 7% in global real Gross Domestic Product (GDP).

"NEGATIVITY WILL SPREAD"

In her written statement, Okonjo-Iweala noted that the tariff standoff between the US and China could harm not only trade between the two countries but also the global economic outlook. She emphasized that negative macroeconomic developments would spread to other economies, especially the least developed countries, stating, "The potential for global trade to fragment along geopolitical lines is particularly concerning."

"AN URGENT THREAT"

Okonjo-Iweala continued her statement as follows: The division of the global economy into two blocs could lead to a long-term decrease of about 7% in global real GDP. Furthermore, the redirection of trade continues to be an urgent threat that requires a coordinated global response. We call on all WTO members to address this issue through cooperation and negotiation. It is critically important for the global community to work together to maintain the openness of the international trading system. WTO members are obligated to uphold an open, rules-based trading system. The WTO serves as a vital platform for dialogue. It is essential to resolve these issues within a framework of cooperation.