USA And China’s Tariff War Can Pull Down The World Economy – Ngozi Okonjo-Iweala

The Director-General of the World Trade Organization, Ngozi Okonjo-Iweala has come out to warn that the United States and China’s tariff war could reduce trade in goods between the two economic giants by 80 per cent.

She recently had her say while speaking to the press, and Nigerians have been reacting.

According to her, the US and China accounted for three percent of World Trade together, so a conflict could severely damage the global economic outlook and pull down the rest of the world economy.

Ngozi added that it is critical for the global community to work together to preserve the openness of the international trading system.

Her words, “Our preliminary projections suggest that merchandise trade between these two economies could decrease by as much as 80 percent.

It is critical for the global community to work together to preserve the openness of the international trading system.

WTO members have the agency to protect the open, rules-based trading system. The WTO serves as a vital platform for dialogue. Resolving these issues within a cooperative framework is essential.”

WOW.