Consider the following statements regarding the WTO Global Trade Outlook and Statistics April 2025: 1. The report projected a decline in both global merchandise trade and global services trade for 2025. 2. Rising reciprocal tariffs and Trade Policy Uncertainty (TPU) were cited as primary reasons for the merchandise trade downgrade. Which of the statements given above is/are correct?

Question

Accepted Answer

B) 2 only — Statement 1 is incorrect because while merchandise trade was projected to decline by 0.2%, services trade was expected to grow by 4.0%. Statement 2 is correct as the WTO attributed the merchandise downgrade to rising tariffs and unprecedented trade policy uncertainty.

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