Anti-trade and anti-globalization rhetoric poses risks to global economic growth, the head of the World Trade Organization (WTO) told CNBC on Friday, as would-be U.S. President Donald Trump launched his campaign on a protectionist platform.
"I am concerned. I think that as far as trade is concerned, we are not worse than we were before but we are definitely not much better. We will be growing now at the slowest pace than the last 30 years," WTO Director-General Roberto Azevêdo said in a television interview.
"It is still sluggish and the problem is this new anti-trade rhetoric, anti-globalization rhetoric. It doesn't help because it may spell what is to come in terms of policies, so that is definitely bad news," he added.
Trump formally accepted the Republican presidential nomination on Thursday evening and ramped up his previous anti-globalization rhetoric in his acceptance speech. The billionaire businessman said "Americanism not globalization will be our credo" and added that "We (the U.S.) will never-ever sign bad trade deals."