“World trade returned to positive growth in April. But the data showed signs of momentum slowing, even before most tariff increases have taken effect,” ING analysts note. Key quotes “World trade grew by 0.7% in April, returning to positive growth after falls in the previous two months. Up until this month, world trade had seemed to be keeping some momentum, with the level of world trade maintaining gains on its level three months previously. However, this was partly thanks to a sharp drop in October last year flattering the comparison. This dropping out of the comparison this month left the three-month average to April lower than it was around the turn of the year.” “A slowdown in underlying momentum, if it is sustained, is potentially more significant than the effects of US tariff increases to date (including retaliation by the US’s trade partners). In April, US import tariffs on steel and aluminium had kicked in for some countries, but not yet for Canada, Mexico or the EU. While these tariffs affect a significant share of some countries’ steel and aluminium exports, particularly Canada and Mexico, US imports of steel and aluminium account for some 1% of world trade.” “Countries’ retaliation against the US is similarly limited in terms of the volumes affected at the moment, though as tensions continue to run high, the extent of tariff increases seems likely to grow.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD up for the day but unable to extend gains above 1.3300 FX Street 5 years "World trade returned to positive growth in April. But the data showed signs of momentum slowing, even before most tariff increases have taken effect," ING analysts note. Key quotes "World trade grew by 0.7% in April, returning to positive growth after falls in the previous two months. Up until this month, world trade had seemed to be keeping some momentum, with the level of world trade maintaining gains on its level three months previously. However, this was partly thanks to a sharp drop in October last year flattering the comparison. This dropping out of the comparison this month left the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.