Global trade to grow at its slowest pace in a decade and no hope for sizable improvement
Higher uncertainty and higher global tariffs are taking a toll on trade: In 2019, the volume of global trade of goods and services should grow at its slowest pace in a decade (+1.5%). As a result, exporters are likely to see USD420bn in losses this year, according to Euler Hermes’ latest Global Trade report: “Trade Wars: May the Trade Force be with you in 2020 and beyond”.
U.S. and EU trade tensions: A tougher stance ahead
The World Trade Organization authorized the U.S. to impose tariffs on EU imported goods to cover an estimated annual loss of USD7.5bn in compensation for illegal state aid provided to aircraft maker Airbus SE. The ruling marks the resolution of a 15-year dispute over the EU’s subsidies for Airbus.
The World Trade Organization (WTO) authorized today the U.S. to impose tariffs on EU-imported goods to cover an estimated annual loss of USD7.5bn in compensation for illegal state aid provided to aircraft maker Airbus.
Benin and Nigeria jointly signed the African Continental Free Trade Union in July, but no more than just a month later Nigeria closed a part of its border in order to limit its food imports from Benin (and Niger).