Geneva, Jan. 23, 2025 – The World Trade Organization chief said on Thursday that any tit-for-tat trade wars would have catastrophic consequences for global growth in a debate where U.S. President Donald Trump’s tariff threats were discussed.
“If we have tit-for-tat retaliation, whether it’s 25% tariff (or) 60% and we go to where we were in the 1930s, we’re going to see double-digit global GDP losses.
“That’s catastrophic. Everyone will pay,” said WTO Director-General Ngozi Okonjo-Iweala at the World Economic Forum in Davos. (Reuters)
