WTO cuts global trade growth forecast

Multilateral organization says heightened tensions may crimp prospects

Escalating trade tensions and tighter credit market conditions will continue to crimp global growth this year and for most of next year, the World Trade Organization said on Friday.

Analysts said China and the United States, having been involved in tariff rhetoric for months, should go back to result-oriented negotiations. Otherwise, escalating confrontation could further undermine world growth and have adverse effects on both sides.