The organization added in its annual forecasts that trade was negatively affected by new customs duties, retaliatory measures, weak global growth, fluctuations in financial markets, and monetary tightening in developed countries. >
The organization expected last September growth of 3.9% for the year 2018, down from 4.6% in 2017.
According to CNBC Arabia, the organization's chief economist, Robert Copman, said the worst could be coming, and the impact could be greater if US President Donald Trump went ahead with a plan to impose Customs duties on auto imports are high later this year.
Copman added: American-Chinese trade accounts for about 3% of world trade. Car trade globally makes up about 8% of global trade. So you can imagine that the impact of tariffs on cars will be greater than the impact of the US-China trade dispute.
The organization said that although global trade volume increased only at a slow rate in 2018, its value in dollars increased by 10% to $ 19.48 trillion, which is due in part From it to a 20% rise in oil prices.
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