Latest news with #merchandisetrade
Bloomberg
3 days ago
- Business
- Bloomberg
WTO Sees Less Severe Global Trade Slowdown Amid US Front-Loading
The World Trade Organization predicted subdued global merchandise trade this year and next, saying activity remains clouded by President Donald Trump's tariffs on US imports, while lifting its estimate for 2025. After a 2.9% gain in 2024, global goods trade will increase by 0.9% this year, compared with an April forecast for a 0.2% decline, the Geneva-based trade body said in a report Friday. The upward revision was attributed to a rush by American importers to stockpile products, parts and raw materials before the bulk of Trump's higher levies took effect.
Wall Street Journal
6 days ago
- Business
- Wall Street Journal
Canada Trade Deficit Inches Up in June
Canada's merchandise-trade deficit inched up in June as tariffs and uncertainty continued to drag on exports, widening the shortfall for the second quarter to a record. The country recorded a goods-trade deficit for the month of 5.86 billion Canadian dollars, the equivalent of about $4.25 billion, Statistics Canada said Tuesday. That was the second-largest on record and a fifth consecutive monthly deficit, following a downwardly revised gap of C$5.49 billion in May.
Yahoo
15-07-2025
- Business
- Yahoo
Merchandise trade volume growth stronger than expected in Q1 2025, says WTO report
GENEVA (Reuters) -The volume of world merchandise trade grew more than forecast in the first quarter of 2025 from the previous three months, but growth is expected to slow, a new World Trade Organization report said on Tuesday. The volume of world merchandise trade rose by 3.6% in the first quarter of 2025 from the previous quarter and 5.3% year-on-year, due to a surge of imports in North America ahead of expected higher tariffs in the United States, the WTO report showed. "Merchandise trade volume growth in the first quarter was stronger than the WTO's most recent forecast, but WTO economists expect the pace of expansion to slow later in the year as fully stocked inventories and higher tariffs weigh on import demand," the report said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
08-07-2025
- Business
- South China Morning Post
Experts urge Hong Kong to be a ‘value partner', not just a ‘superconnector'
Hong Kong should ensure it acts as a 'value partner' in addition to its role as a 'superconnector' between mainland China and the rest of the world, rather than a mere facilitator of connections, according to experts including the city's former commerce chief. Speaking at the South China Morning Post 2025 China Conference themed 'Where Capital Meets Innovation' on Tuesday, the former Secretary for Commerce and Economic Development Edward Yau Tang-wah said Hong Kong should not merely aim to 'connect the dots'. 'What we do to secure Hong Kong's position as described by the chief executive and all the previous leaders is we must bring value, and the value is not just gold plating, but also to create a dependable partnership that could join things together,' he said. 'Hong Kong must enter into the game of building this partnership.' Another speaker, Patrick Lau Hui-ping, deputy executive director of the Hong Kong Trade Development Council said the city had remained resilient in merchandise trade despite external pressures. He highlighted that exports from the mainland, channelled through Hong Kong, had seen their global market share increase from 12 per cent to around 14 per cent, even after initial tariffs were imposed.
Wall Street Journal
03-07-2025
- Business
- Wall Street Journal
Canada Goods Trade Deficit Narrows as Flows With U.S. Continue to Slacken
OTTAWA—Canadian exports to the U.S. continued to slump in May, sandbagged by shifting tariffs and Washington's mercurial trade policy, while shipments to other countries rose and hit fresh highs. Weak demand in the U.S. for Canadian goods and weak imports by Canadians helped narrow the country's merchandise-trade deficit in May to 5.86 billion Canadian dollars, the equivalent of about $4.31 billion, Statistics Canada said Thursday. That figure came off a peak C$7.60 billion deficit in April that was upwardly revised.
