global trade

WTO

2026-09-15 09:54:43

WTO Urges Members to Reform Global Trade Rules, Warns of Fragmentation Risks

The World Trade Organization has urged member states to reform global trade rules to reduce the risk of trade fragmentation, according to a ChainCatcher newsflash. The organization said the cost of inaction could be significant over the long term. It warned that without reform, global GDP could fall by 5.1% by 2050, while exports could decline by 18.6%. The WTO also outlined a more constructive scenario tied to stronger multilateral cooperation. In that case, global GDP could rise by 2.9%, and exports could grow by nearly 18%. The update focused on the contrast between a fragmented trade environment and a more coordinated multilateral framework, with the WTO calling on members to move ahead with rule changes.

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global trade

2026-08-15 07:08:01

Oxford Economics flags concentrated trade risk across 27 maritime choke points

Oxford Economics said in a new report released on Aug. 15 that global trade is heavily dependent on 27 key maritime choke points, leaving energy flows, commodity shipments and the wider economy exposed if any one of those routes suffers a major disruption. The report said the nearly six-month U.S.-Iran conflict has already hindered shipping through the Strait of Hormuz, a core artery for global energy transport that handles about one-fifth of world oil supply. Rising attack risks for commercial vessels have slowed shipping, lifted international oil prices and pushed U.S. gasoline prices above $4 a gallon, adding to inflation pressure. Beyond Hormuz, the report identified the Strait of Malacca, the Taiwan Strait, the Suez Canal, the Strait of Gibraltar and the Panama Canal as other critical chokepoints. It said Asia has the world’s densest network of trade routes, with the Strait of Malacca linking the Indian and Pacific oceans, while the Taiwan Strait carries about one-quarter of global trade flows. Oxford Economics also warned that geopolitical conflict and climate change are increasing risks, citing lower water levels in the Panama Canal due to drought and El Niño, which have limited cargo loads and raised shipping costs.

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United Nation

2026-07-31 17:50:44

Guterres calls for halt to Gulf fighting and restoration of navigation rights

United Nations Secretary-General Antonio Guterres called for an immediate halt to fighting in the Gulf region at UN headquarters in New York, according to Jin10 as cited by ChainCatcher. He urged the full restoration of international navigation rights and freedoms in and around the Strait of Hormuz and the Bab el-Mandeb Strait, and said disputes should be resolved through diplomatic channels. Guterres also said the military escalation in the Gulf has lasted for six months, affecting global stability and causing trade to contract while disrupting energy markets. The remarks focused on the wider international fallout from the conflict, including pressure on global trade flows and the energy market.

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Donald Trump

2026-07-24 22:11:23

Trump announces new 10% to 12.5% tariffs on multiple trading partners

U.S. President Donald Trump said the United States will impose new tariffs ranging from 10% to 12.5% on several major trading partners, including the United Kingdom, China, the European Union, Canada, Japan and India. According to Techub, which cited watcher.guru, Trump said the move is intended to address human rights abuses and distorted trade practices while improving the welfare of workers globally. The report said the tariff plan could intensify global trade tensions, raise consumer costs and add economic pressure. It also noted that Trump’s tariff measures introduced in early 2025 had already triggered sharp market volatility. For crypto markets, the same brief pointed to a separate policy development in Washington. The U.S. CLARITY Act is set for a vote, and if passed, it could lift investor sentiment toward cryptocurrencies. No further details on the legislative timetable or the scope of the tariff rollout were provided in the source brief.

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U.S. tariffs

2026-07-24 00:07:00

New U.S. tariffs take effect July 24, adding 10% to 12.5% duties on dozens of countries

The United States is rolling out a new round of tariffs as a 150-day global temporary tariff period nears its end this week. According to a report cited by PANews, the Office of the U.S. Trade Representative issued a notice on July 23 saying it would impose additional tariffs of 10% to 12.5% on dozens of countries and regions under Section 301 of the Trade Act of 1974. The measure takes effect on July 24, Eastern Time. The report, citing Xinhua via Jiemian News, said the new tariffs were justified on the grounds that the targeted jurisdictions had failed to stop what the notice described as “forced labor.” It also said the new duties would cover 99% of U.S. trade volume and would be stacked on top of tariffs that had already taken effect. Only some agricultural products, pharmaceuticals, aviation parts, and steel and aluminum are listed as exempt.

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EU

2026-07-08 17:18:16

EU and Mercosur Sign Historic Trade Pact to Remove Over 90% of Tariffs

The EU and Mercosur have formally signed a long-awaited trade pact in Asuncion, aiming to phase out more than 90% of tariffs across a market of over 700 million consumers, pending ratification.

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European Unio

2026-07-08 17:10:15

EU and Mercosur Sign Landmark Trade Pact to Remove More Than 90% of Tariffs

The EU and Mercosur have signed a long-awaited trade agreement in Asuncion after more than 25 years of talks. The pact targets the gradual removal of over 90% of tariffs, covers a market of more than 700 million consumers, and still requires legislative approval before taking effect.

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trump

2026-07-08 16:52:15

Jeffrey Sachs Calls Trump's Tariffs 'a Serious Mistake', Sees Limited Impact on China and Russia

Renowned US economist Jeffrey Sachs criticized Trump's tariff policy as a 'serious mistake' that will harm the US economy, but under WTO rules, it will have limited impact on China, Russia, and other countries. He previously called the move 'childish and dangerous.'

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