Forecasting a 5 % collapse of trade between China and the US

Mehr Economic Reporter quoted by dice Okonjou Ivila, the head of the World Trade Organization, predicted that bilateral tariffs between China and the US lead to a 2 % collapse of trade between the two countries.

“The exacerbation of tension between China and the United States has created a severe risk of bilateral trade between the two countries,” he said. Our initial evaluations show that commodity trade between the two major economies of the world will collapse by 5 %.
The World Trade Organization’s head also said that the negative consequences of this tension will not be limited to the US and China, and that other global countries, including the less developed countries, also undermine al-Shama .

This official between International believes that division of the world into two poles in the long run can lead to a reduction of global GDP by up to 5 %.