Overview

• Ngozi Okonjo-Iweala says the share of trade conducted on WTO most-favoured-nation terms has dropped to about 72% from roughly 80% earlier this year.
• Reporting links the decline to higher U.S. import tariffs introduced this year under President Donald Trump that depart from equal-treatment norms.
• The WTO raised its 2025 global trade growth forecast in August to 0.9%, citing strong first-half activity boosted by stockpiling.
• Okonjo-Iweala expects the impact of tariffs to become clearer in 2026 once warehouse inventories are drawn down.
• Starting her second term, she flagged concern over U.S. plans to cut WTO funding and noted a fisheries subsidies pact is close to entering into force.