Cutting restrictive trade policies could boost global economic recovery from COVID-19 by 3.4%

Reducing restrictions on maritime trade could lead to GDP gains of up to 3.4% for national economies, says International Chamber of Shipping.

Non-tariff restrictions, such as anticompetitive licensing laws and discriminatory treatment of foreign companies, found to be up to five times worse than tariffs themselves.

Report, co-authored with Professor Craig Van Grasstek of Harvard Kennedy School of Government, will be presented to an influential G20 taskforce.