Benn Steil


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Trade Troubles

April 14, 2009

The WTO has forecast that world trade will decline by 9% this year, the largest fall since World War II and the first decline since 1982. The severity of the contraction in world trade not only exceeds the post-WWII recession average, but is also deeper than in any post-war recession. In response, G20 leaders extended their agreement not to impose protectionist trade barriers to the end of 2010 and promised $250 billion in trade finance.

Economist: Trade Finance
CFR Meeting: Global Trade-Implications of the Current Crisis
Teslik: Gloomy Portents for Global Trade The G20s Trade Agenda
CGS: Economic Cycle

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