The World Trade Organization predicted Tuesday that trade in goods will grow much less than previously expected this year, saying prospects for the global economy have darkened since the onset of Russia’s war in Ukraine.
In the latest grim economic outlook to emerge, the Geneva-based trade body pointed to multiple uncertainties in its forecast over the next two years because Russian and Ukrainian exports of items like food, oil and fertilizers are under threat from the war. It also cited the lingering impact of the COVID-19 pandemic — notably from lockdowns in China.
