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6/24, 3:45 PM (Source: TeleTrader)
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WTO: Rise in trade restrictions in G20 causing uncertainty

An increasing number of trade restrictions between G20 economies is causing "uncertainty" for the global economy, the World Trade Organization (WTO) said on Monday. The international organization pointed out that as many as 20 new policies were introduced from October last year to May this year, restricting trade worth $335.9 billion.

The figure remains lower than the amount covered by trade liberalization policies which was $397.2 billion in 29 separate measures in the same October to May period. However, the WTO stressed that a global trend of introducing new trade tariffs can be seen and that it is rising quickly.

The WTO report comes just days before the Osaka G20 summit where world leaders are expected to discuss global trade and geopolitical tensions.

Breaking the News / VP