The World Trade Organization believes that the new tariffs introduced by the United States could lead to a reduction of four percentage points of trade volume World. Explaining that the WTO Secretariat is monitoring and carefully analyzing the measures announced yesterday by the States United States, the director general of the WTO, Ngozi Okonjo-Iweala, highlighted that "the latest announcements will have implications for global trade and the prospects for economic growth. While the situation is evolving Quickly - he specified - our initial estimates suggest whereas these measures, together with those introduced since the beginning of the year, could lead to an overall contraction of about 1% of global trade volumes in goods, which represents a downward revision of almost four percentage points compared to to previous projections. They are - added Okonjo-Iweala - deeply concerned about this decrease and the potential escalation to a tariff war with a cycle of retaliation that lead to further contractions in trade".

Announcing that many nations have contacted World Trade Organization with questions about the potential impact of the measures on their economies and the global trading system, Ngozi Okonjo-Iweala stressed that "it is important remember that, despite these new measures, the vast majority of majority of world trade continues to flow according to the principle of the WTO of the Most Favoured Nation (MFN). The estimates now indicate that this share currently stands at 74%, down from about 80% at the beginning of the year. The members of the WTOs must come together to safeguard this progress."

'Measures of this magnitude - concluded the general manager of the WTO referring to the tariffs introduced by the USA - have the potential to create significant diversion effects commercial. I urge members to manage the resulting pressures in responsible way to prevent trade tensions from proliferate. The WTO was established to serve precisely in moments like this: as a platform for dialogue, to prevent trade conflicts escalate and to support a open and predictable business scenario. I encourage members to use this forum to engage constructively and seek cooperative solutions".