Global alarm bells sound over full-blown trade war

WTO chief warns Trump not to spark first trade war since 1930s after US president talks up tariffs

Fears of the first full-scale tariff war since the 1930s have been raised by the head of the World Trade Organisation, in a direct warning to Donald Trump that his proposed levies on steel and aluminium will trigger a domino effect that will lead to global recession.

In a sign of growing international alarm at the possible consequences of Trump's protectionist measures, Roberto Azevedo, the WTO's director general, said "in the light of recent announcements on trade policy measures, it is clear we now see a much higher and real risk of triggering an escalation of trade barriers around the world".