WTO warns tariff wars threaten jobs and global living standards

Organisation slashes forecast for 2019 trade growth amid US-China dispute and Brexit fears

The World Trade Organization has warned that the outbreak of tariff wars pose a threat to jobs and living standards as it slashed its forecast for trade growth during 2019.

The Geneva-based WTO said it had more than halved its growth forecast for trade in goods this year from 2.6% to 1.2% after a summer of escalating US-China protectionism, a slowdown in global growth and fears of the impact of a no-deal Brexit.

The roots of the dispute come from US president Donald Trump's "America first" project to protect the US' position as the world's leading economy, while encouraging businesses to hire more workers in the US and to manufacture their products there.