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The World Trade Organization slashed its forecast for merchandise trade this year as soaring U.S. tariffs and broader uncertainty hammer international commerce.

Global goods trade in 2025 will grow less then initially forecast, the World Trade Organization said, as rising instability weighs on economic activity and threatens to disrupt shipping.

Global merchandise trade is recovering from last year’s slump, the World Trade Organization said, as one of its barometers for activity rose further above the longer-term average pace.

GENEVA — The World Trade Organization says China can impose sanctions on up to $3.6 billion worth of U.S. goods over the U.S. government’s failure to abide by anti-dumping rules with regard to Chinese products.

The World Trade Organization on July 16 delivered a mixed judgment over America’s sanctions on subsidized goods produced by Chinese state-owned enterprises.

The European Union is revamping its plan to reform the World Trade Organization in an effort to win support from the U.S., according to two people briefed on the process.

President Donald Trump said he would pull out of the World Trade Organization if it doesn’t treat the United States better, continuing his criticism of a cornerstone of the international trading system.

Global trade could rebound this year — if rising protectionism and tighter economic policy stay out of the way.