English
The WTO’s Global Trade Outlook 2025 reveals a projected decline in global merchandise trade, rising protectionism, US-China decoupling, and a surprising resilience in services trade amid growing global uncertainty.
The UK government has suspended third-country duty – also known as MFN tariffs on 89 products, expressing an ambition that the savings will be passed on to consumers. Whilst timing of the press release appears to coincide with the imposition of 10% US tariffs applied in addition to existing most favoured nation (MFN) rates on most UK exports to the United States, the suspended tariff announcements are the outcome of a 2024 consultation.
Written in collaboration with researchers from NYU Stern School of Business, the 292-page report aims to guide business leaders and policymakers through global trade dynamics by providing context for the forces driving the global economy.
The latest World Trade Organization (WTO) Goods Trade Barometer indicates that global merchandise trade remained steady at the start of 2025. The index read 102.8 – virtually unchanged from December’s 102.7, suggesting that trade growth continues at a moderate pace, though rising trade policy uncertainty and potential tariff measures could weigh on future performance.
Written in collaboration with researchers from NYU Stern School of Business, the 292-page report aims to guide business leaders and policymakers through global trade dynamics by providing context for the forces driving the global economy.
