THE World Trade Organization (WTO) on March 12 said global-goods trade appeared to remain steady in the fourth quarter of 2024 and looked set to continue growing in the first months of 2025, but increased trade policy uncertainty and the prospect of new tariffs could weigh on trade in the medium term.

The cautionary note comes at a time when the United States has been sowing chaos in global trade. In recent weeks, the US has been brandishing the threat of tariffs. On Wednesday, the US government officially imposed a 25-percent tariff on all imported steel and aluminum, a move that sent shockwaves through the global economy. Just hours after the tariffs took effect, US President threatened to escalate a global trade war with further tariffs on European goods, as major US trading partners said they would retaliate against trade barriers, Reuters reported.