Geneva, July 18 (UNI) The World Trade Organization is facing unprecedented challenges from trade tensions, which would impact trade expansion and economic growth, an official of the global trade body has said.
"At the moment world trade continues to grow at a healthy clip and we still forecast trade expansion of around 4 per cent this year. But clearly as more and more layers of trade restrictive measures are applied, there will be an impact on trade growth and on the overall economy," WTO Director for Information and External Relations and spokesperson Keith Rockwell told Xinhua in a written interview.
"Companies are withholding job creating investment and reconsidering production and sourcing options. Business hates uncertainty and these are without doubt uncertain times," he said.