Trade wars will be catastrophic, can cause GDP losses: WTO chief

WTO Director-General Ngozi Okonjo-Iweala said any trade war will have "catastrophic" consequences. "If we've tit-for-tat retaliation, whether it's 25% tariff (or) 60% and we go to where we were in the 1930s, we're going to see double-digit global GDP losses," she said. This comes amid US President Donald Trump's threats to impose tariffs on goods from multiple countries.