Frontloading, measured responses cushion tariff impact in 2025 but risk high for 2026
World merchandise trade is now projected to grow 0.9% in 2025, up from the -0.2% contraction forecasted in April but down from the 2.7% estimate pre-dating the tariff increases. The upgrade is mostly due to frontloading of imports in the United States, WTO economists said in a forecast update released on 8 August. However, higher tariffs over time will wei...