WTO warns weakened trade rules could leave global GDP up to 10 pct lower
Summary
The WTO warns that failure to modernize the global trading system could leave global GDP up to 10 percent lower than under a strengthened multilateral framework. Its new report says trade cooperation reforms could boost GDP and exports by 2050, while fragmentation would significantly hurt growth.
Key Points
- The WTO says a weakened global trading system could cut world GDP by as much as 10 percent compared with a strengthened multilateral system.
- Its World Trade Report 2026 examines three scenarios, including a more cooperative framework and two forms of trade fragmentation.
- WTO Director-General Ngozi Okonjo-Iweala said the multilateral trading system has delivered major benefits over the past 80 years.
- Chief Economist Robert Staiger said the cost of inaction on reform could be substantial for global real GDP.
