The World Trade Organisation (WTO) has warned that there will be a global downturn if the trade conflict between the U.S. and other countries worsens.
The WTO Director-General Roberto Azevedo made this warning on Wednesday saying that this was already happening. When asked if there was a risk for the global economy, Azevedo told Business Daily Media: “Absolutely.
“If the trade dispute escalates, there is the risk of a global downturn, and we are already seeing signs that this downward process has already started.” He said that it was crucial to maintain dialogue to avoid escalation.
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