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| Press conference |
Global trade is expected to be negatively
impacted by policies and tariffs, with merchandise trade volumes falling by
1.5% by 2025. The biggest impact is felt in North America, while Asia and
Europe still contribute positively, albeit at lower levels than before. WTO
reform is seen as critical to trade stability. Global trade projections show a
decline of 0.2% by 2025 due to new tariffs and increased trade. The decline
could reach 1.5% if additional risks materialize. Africa faces significant
challenges in global trade, with its high dependence on certain exports making
it vulnerable to economic shocks.
Self-reliance and
diversification are key to enhancing Africa’s economic resilience in the
future. Global trade is expected to decline due to the US’s tit-for-tat
tariffs, which are reducing growth in the volume of goods traded. Developing
countries will feel the worst impact of this policy shift. Trade diversion
between China and Europe is expected to increase by 6%, but there will also be
an impact on European exports to other economies.
This situation highlights the importance of
careful management to prevent further tensions in global trade relations. The
current global crisis is affecting poor and developing countries, so it is
important to consider its impact and protect them. Reforms in the WTO are
needed to create fairer and more effective policies. African countries are
trying to pursue a balanced approach to trade, despite pressures to choose
sides in global trade relations. They want a less fragmented development and to
maintain autonomy in their trade policies. Higher import tariffs are affecting
economic growth projections in various regions, especially in North America and
Asia. This shows the significant impact of global trade policies on local
economies. US exports are expected to decline due to import tariffs and
retaliation from other countries. This creates new challenges in the
competitiveness of US products in the global market.
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