Increase in tariffs and import duties to US$588 billion could threaten global economy, World Trade Organisation warns



Bloomberg | South China Morning Post

Restrictive trade measures including tariffs and import duties rose sharply over the past year and could threaten global economic growth and jobs, according to the World Trade Organisation.

World Trade Organisation (WTO) members applied 137 new trade-restrictive measures during the year that ended in October, up from 108, according to the Geneva-based organisation.

The coverage of these trade-restrictive measures amounts to US$588 billion, more than seven times larger than a year ago.

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