A few weeks on from Washington’s first wave of tariff announcements, international trade data points to a subdued outlook, with key indicators signalling serious risk of trade diversion to Europe as a result of the disruption in trade between US and China, according to the World Trade Organization (WTO).
The WTO's “Global trade outlook” released on Wednesday found decoupling Chinese and US economies would lead to an 81% plunge of merchandise trade between both countries in 2025 and 91% without the recent exemptions granted by the US administration for products such as smartphones.
