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WTO Slashes Forecast for Merchandise Trade Growth in 2023

  • The global outlook is ‘looking quite grim,’ WTO chief says
  • Headwinds include Ukraine war, weaker demand, high inflation
A container ship passes beneath the Crescent City Connection bridge near the Port of New Orleans.
A container ship passes beneath the Crescent City Connection bridge near the Port of New Orleans.Photographer: Luke Sharrett/Bloomberg
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Global merchandise trade will slow next year as “multiple shocks” ranging from Russia’s war in Ukraine, high energy costs in Europe and US monetary policy tightening raise manufacturing costs and squeeze households, the World Trade Organization said.