Southeast Asia Information Port (www.dnyxxg.com) – According to a report by the Vietnam News Agency correspondent in Geneva, the World Trade Organization (WTO) released its annual Trade Surveillance Report on the international trade environment on December 3rd. Vietnam is one of the 46 members actively participating in providing information for the report's compilation.
The report shows that between mid-October 2024 and mid-October 2025, the total value of global imports affected by new tariffs and other import measures reached US$2.64 trillion (equivalent to 11.1% of total global imports), more than tripling from US$611 billion in the same period last year, marking the highest level in over 15 years. On the export side, the total value of trade affected was approximately US$2.966 trillion (more than double the US$888 billion in the previous reporting period).
At a meeting of the WTO's Trade Policy Review Body (TPRB), Director-General Ngozi Okonjo-Iweala emphasized that the significant increase in tariffs reflects the rising trend of protectionism since the beginning of the year. Currently, nearly 20% of global imports are affected by tariffs and other similar measures implemented since 2009, compared to 12.6% just a year ago. However, she also noted members' efforts to facilitate trade through dialogue rather than retaliation, reflecting a commitment to keeping cross-border trade flowing smoothly. The WTO Director-General called on WTO members to use the current context to push forward long-delayed reforms, address potential concerns related to recent unilateral measures, and reposition the WTO to better capitalize on new trade opportunities.
WTO economic experts predict that global merchandise trade will grow by 2.4% in 2025 and 0.5% in 2026. Stronger trade growth is expected in the first half of 2025, driven by factors including imports to avoid tariffs, increased demand for AI-related products, and continued growth in trade among most WTO members, particularly developing economies. (End)
