Ngozi Okonjo-Iweala

WTO chief warns tariff war could cut global GDP by 7%

The head of the World Trade Organization warned on Tuesday that the Trump administration's escalating tariff war threatens to fracture the global economy into rival trading blocs, with a potential 7% reduction in global GDP if the multilateral trading system…

WTO warns global GDP could fall 10% without trade reform

The World Trade Organization released its World Trade Report 2026 on Tuesday, warning that failure to modernize the global trading system could shrink world output by as much as 10%, while strengthening multilateral cooperation could add roughly $3 trillion to…