#June2018 #WorldBankGroup #GlobalEconomicProspects

On trade policy front, the outcome of some trade negotiations is still uncertain, and the risk of escalating trade restrictions has intensified, as new tariff announcements by the United States have led to retaliatory responses by major trading partners. In other policy developments, the European Union and the United Kingdom reached agreement on guidelines for trade negotiations, the U.S.-Korea Free Trade Agreement was successfully re-negotiated, the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) was signed by 11 member countries, and leaders from more than 40 African nations endorsed a framework establishing a future African Continental Free Trade Area.

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