World Trade Organization: Concerns for shrinking freight volume by 1% this year

The duties announced by US President Donald Trump, along with those imposed in early 2025, could lead to a total shrinkage of the total volume of freight by about 1% this year, according to his estimation World Trade Organization.

WTO Director Engozi Okonzo-Juela said that the organization is closely monitoring the situation with duties and analyzing the measures announced by the US.

“I am very concerned about this reduction and the possibility of escalating, to a duty war, with a circle of retaliation that would lead to a new reduction in freight transactions,” the organization’s head said in its statement.

Source: RES – EIA