GENEVA, Sept. 15 -- The World Trade Organization (WTO) warned Tuesday that failure to modernize the global trading system could leave global GDP as much as 10 percent lower than under a strengthened multilateral system, as trade policy faces its most serious and sustained disruption in decades.

The warning came in the WTO's annual flagship publication, World Trade Report 2026: A Critical Juncture for the World Trading System, which examines the achievements of the multilateral trading system over the past 80 years and the challenges it now faces.

"The multilateral trading system has delivered enormous benefits over the past 80 years, helping to create a more integrated and resilient global economy," WTO Director-General Ngozi Okonjo-Iwe...