world trade seen growing
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

World trade seen growing

Egypt Today, egypt today

Egypt Today, egypt today World trade seen growing

World Trade Organization (WTO)
Geneva - Arab Today

World trade is on track to expand by 2.4 percent this year, though there is “deep uncertainty” about economic and policy developments, particularly in the United States, the World Trade Organization (WTO) said on Wednesday.
WTO director-general Roberto Azevedo said that clarity was still needed on US President Donald Trump’s trade policies, while making a general appeal to resist protectionism.
The results of upcoming elections in major economies including France should provide more predictability for investors, he said.
The range for growth this year has been adjusted to between 1.8 and 3.6 percent, from 1.8 to 3.1 percent last September, the WTO said.
“We should see trade as part of the solution to economic difficulties, not part of the problem,” Azevedo said.
“Overall I think that while there are some reasons for cautious optimism, trade growth remains fragile and there are considerable risks on the downside. Much of the uncertainty around the outlook is political,” he told a news conference.
“We need to keep strengthening the system, delivering new reforms, and resisting the erection of new barriers to trade.”
The WTO has repeatedly revised preliminary estimates over the past five years as predictions of economic recovery prove overly optimistic. Global trade grew by “an usually low” 1.3 percent in 2016, the slowest pace since the financial crisis, failing to match even its revised forecast of 1.7 percent of last September.
“The poor performance over the year was largely due to a significant slowdown in emerging markets where imports basically stagnated last year, barely growing in volume terms,” Azevedo said.
In 2018, global trade is forecast to grow by between 2.1 percent and 4 percent in WTO’s latest analysis.
“A spike in inflation leading to higher interest rates, tighter fiscal policies and the imposition of measures to curtail trade could all undermine higher trade growth over the next two years,” it warned.
Trump has made reducing US trade deficits a key focus of his economic agenda to try to grow American manufacturing jobs. He has taken particular aim at renegotiating trade relationships with China and Mexico.
He is considering an executive order to launch a trade investigation that could lead to supplemental duties in certain product categories, a Trump administration official told Reuters on Monday.
“If policymakers attempt to address job losses at home with severe restrictions on imports, trade cannot help boost growth and may even constitute a drag on the recovery,” Azevedo said.
He awaited confirmation of the new US Trade Representative (USTR) nominee Richard Lighthizer — who has pledged an “America First” strategy to aggressively enforce US laws and trade deals to stop unfair imports and push China to scrap excess factory capacity.
“We are waiting to see the new trade team really in place, waiting for the new USTR to be confirmed so that we can have a more meaningful dialogue at this point in time we don’t have that. We are still waiting to see how the trade policy itself is going to shape up in the United States.” (Reporting by Stephanie Nebehay; Editing by Andrew Heavens)

Source: Arab News

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

world trade seen growing world trade seen growing



GMT 10:03 2018 Monday ,10 December

23 Palestinians arrested in West Bank

GMT 21:07 2017 Tuesday ,21 February

Abdullah El-Said recovers from his injury

GMT 09:55 2019 Monday ,19 August

Live an excellent atmosphere in your career

GMT 01:04 2013 Tuesday ,22 October

Facebook: widespread outage was maintenance issue

GMT 08:13 2015 Tuesday ,20 January

Catholics do not need to breed 'like rabbits'

GMT 19:37 2017 Thursday ,09 February

Angry patients storm children hospital

GMT 16:47 2014 Wednesday ,26 March

Children learn aggressive from violent video games

GMT 22:45 2011 Friday ,07 October

Titanium treasure found on Moon

GMT 02:09 2012 Saturday ,01 September

Somalia sets presidential election for Sept 10

GMT 22:56 2014 Thursday ,16 January

Streep extends Oscar nominations record

GMT 22:45 2011 Monday ,26 September

Dubai SCE, UNDP sign MoU

GMT 13:19 2011 Sunday ,25 September

Saudi King gives women right to vote

GMT 06:33 2015 Monday ,03 August

Lonely galaxy 'lost in space'

GMT 10:34 2011 Thursday ,15 December

Fairmont beefs up Middle East footprint

GMT 20:39 2014 Tuesday ,01 July

September 22 - October 22

GMT 15:48 2016 Monday ,29 February

CEO shares tourism Ireland success story
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday