The World Trade Organization (WTO) cut its forecast for growth in global trade this year by more than half on Tuesday and said further rounds of tariffs and retaliation, a slowing economy and a disorderly Brexit could squeeze it even more. The WTO said it now expected global merchandise trade to increase by 1.2% this year, compared with its April estimate of 2.6%. That growth was 3% in 2018. For 2020, growth of 2.7% is forecast, down from a previous estimate of 3%.
