UNCTAD – Global Trade Update: Trade Policy Uncertainty

The main theme of the document is trade policy uncertainty and its impact on global markets.

Key findings include: Global tensions and economic challenges increase trade policy uncertainty, leading to trade volatility and raising risks for trade-dependent economies. Uncertainty is more disruptive than tariffs, as companies can adapt to rising costs but find it difficult to plan amid unpredictable policy changes. Small companies and poor countries are particularly vulnerable due to a lack of resources to adapt to an unpredictable trade environment. Stable and predictable trade policies are critically important for maintaining development and growth through international trade.