Mumbai, July 4 -- World Trade Organization or WTO has stated yesterday that a sharp rise in new tariffs and the share of world trade covered by them between October 2024 and May 2025 have contributed to a volatile and unpredictable global trade landscape, the WTO Secretariat's latest Trade Monitoring Update finds. At the same time, despite the backdrop of trade policy uncertainty, geopolitical tensions and regional conflicts, it sees intensifying engagement in pursuit of negotiated solutions to trade-related differences.
The value of global merchandise trade covered by new tariffs and other such measures implemented during the seven-month review period was estimated at US$ 2,732.7 billion (more than triple the US$ 887.6 billion in the 12-m...