Global imports hit record high as trade barriers grow, says WTO
Global trade is feeling the pressure—WTO just revealed that between mid-October 2024 and 2025, tariffs and other trade measures hit a record $2.6 trillion worth of imports (that's over 1 in 10 imports crossing borders).
This is a huge jump from last year, showing more goods than ever are getting caught up in these restrictions.
More tariffs, but some relief too
Protectionism is definitely on the rise: nearly 20% of global imports are now affected by tariffs and other such measures introduced since 2009, up from just over 12% last year.
The US especially ramped things up, doubling tariffs on India to 50% after energy deals with Russia.
Still, there's some good news—countries also put in place hundreds of measures to help trade flow better, with trade growth especially strong in AI tech and developing economies.
The WTO expects global trade to grow modestly next year despite all the ups and downs.