The World Trade Organization is projecting that world trade will climb by 2.7% this year and by 3% next year.
This new forecast, which is marginally higher than the previous year's, does include the potential negative impact on global trade that will flow from US President elect Donald Trump's proposed trade policies.
Mr. Trump has said he plans to impose tariffs of 60% to 100% on goods coming into the US from China, 25% on those imported from Canada and Mexico and 10% on those imported from the rest of the world.
The US imported $3.7 billion in goods or 12.4% of its GDP last year.
A tariff is a custom tax, which increases the price of the goods on which it is imposed.
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