The May edition of the Global Trade Update shows that while tariffs rose sharply in 2025, they have not been the main obstacle to trade over the past decades. The biggest costs now come from non-tariff measures such as technical regulations, health and safety requirements.
Shipping disruptions through the Strait of Hormuz, one of the world’s busiest maritime corridors, are sending ripple effects far beyond the Middle East, threatening energy markets, freight costs and global supply chains, a United Nations Conference on Trade and Development (UNCTAD) study has warned.
Major shifts – from new trade patterns and resilient services to clean technologies and artificial intelligence – offer a chance to reshape the global economy for greater inclusion and resilience, said UNCTAD Secretary-General Rebeca Grynspan.
