OECD warns trade pullback to hamper growth

AFP,PARIS:  Any rollback of international trade deals would hurt global growth which is already soft with only a modest recovery on the cards this year, the OECD said yesterday.
The Organisation for Economic Co-operation and Development did not mention US President Donald Trump by name, but warned that ripping up 
trade agreements hurts everybody, especially those who put up new obstacles to trade.
“An increase in trade barriers in the major global trading economies... would have a major adverse impact on trade and GDP, particularly for those economies that imposed new trade barriers,” the OECD said in an interim version of its Economic Outlook.
The Paris-based OECD advises its 35 members, mostly developed countries, on economic development.
“There is significant uncertainty about the future direction of trade policy globally, in part because of falling public support for trade in advanced countries,” the report.

OECD warns trade pullback to hamper growth

AFP,PARIS: Any rollback of international trade deals would hurt global growth which is already soft with only a modest recovery on the cards this year, the OECD said yesterday. The Organisation for Economic Co-operation and Development did not mention US President Donald Trump by name, but warned that ripping up trade agreements hurts everybody, especially those who put up new obstacles to trade. An increase in trade barriers in the major global trading economies... would have a major adverse impact on trade and GDP, particularly for those economies that imposed new trade barriers, the OECD said in an interim version of its Economic Outlook. The Paris-based OECD advises its 35 members, mostly developed countries, on economic development. There is significant uncertainty about the future direction of trade policy globally, in part because of falling public support for trade in advanced countries, the report.