UNCTAD warns of escalating global trade tensions

In a statement released on 4 April local time, the United Nations Conference on Trade and Development (UNCTAD) noted that global economic growth could decline further as major economies are set to impose new tariffs. In a low-growth, highly indebted global economy, tariff hikes could weaken investment and trade flows, adding uncertainty to an already fragile environment. This could erode confidence, slow investment and threaten development gains, especially in the most vulnerable economies. For businesses and policymakers, trade and investment unpredictability and uncertainty are becoming serious obstacles to growth and planning. Many low-income economies are now facing a deteriorating external environment, unsustainable debt levels and slowing domestic growth.