Geneva, April 16 -- The volume of world merchandise trade is expected to decline by 0.2 per cent in 2025 under current conditions, nearly three percentage points lower than what would have been expected under a "low tariff" baseline scenario, according to the WTO Secretariat's latest Global Trade Outlook and Statistics report released on April 16.

"This is premised on the tariff situation as of 14 April. Trade could shrink even further, to -1.5 per cent in 2025, if the situation deteriorates," said the report. "Services trade, though not directly subject to tariffs, is also expected to be adversely affected, with the global volume of commercial services trade now forecast to grow by 4.0 per cent, slower than expected."

Director-General ...