The World Trade Organization on Thursday slashed its forecast for the growth in the global merchandise trade volume for this year and next year, citing heightened trade tensions.
The Geneva, Switzerland-based WTO cut the global trade growth forecast for this year to 3.9 percent from 4.4 percent predicted in April.
The pace of growth in the global trade was forecast to slow to 3.7 percent next year.
"While trade growth remains strong, this downgrade reflects the heightened tensions that we are seeing between major trading partners," WTO Director General Roberto Azev?do said.
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