00:00The volume of global trade is likely to reduce by 0.2% this year according to the World Trade Organization.
00:07The body has linked this to recent US President Donald Trump's shifting tariff policies in a standoff with China
00:13and further warn that global trade might take a more severe hit.
00:17They further warn that trade in goods worldwide will further slam by 1.5% if Trump follows through on his stiffest tariffs on most nations
00:26due to the uncertainty unsettling businesses.
00:30Trump suspended the toughest set of tariffs for 90 days earlier this month,
00:35so more than 70 countries have a chance to address US trade concerns.
00:39Meanwhile, he is increasing taxes on Chinese imports to 145%
00:44and engaging in a lengthy back-and-forth with Canada and Mexico about tariffs on their goods.
00:49.
00:49You
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