United Nations Secretary-General António Guterres warned on Wednesday that the global trading system is under severe strain from escalating tariffs, with developing nations bearing the brunt of the impact.
“The rules-based trading system is at risk of derailment,” Guterres told delegates at the UN Trade and Development conference in Geneva, highlighting rising trade barriers and fears of trade wars.
U.S. President Donald Trump’s tariff hikes since taking office in January have unsettled financial markets and injected widespread uncertainty into the global economy.
On 7 August, Trump sharply increased tariffs on imports from dozens of countries, leaving key trade partners such as Switzerland, Brazil, and India scrambling to negotiate more favourable terms.
“Supply chains are in turmoil, and trade barriers are climbing, with some of the least developed countries facing punitive tariffs of up to 40%, despite accounting for barely 1% of global trade flows,” Guterres said.
While the European Union has reached an agreement to cap tariffs at 15% on most goods exported to the United States, rates on products from the least developed nations remain far higher — Laos, for example, faces a 40% duty.
Earlier this month, the World Trade Organization cut its forecast for global merchandise trade volume growth in 2026 to 0.5%, citing the delayed effects of U.S. tariffs, a steep downgrade from its earlier August projection of 1.8%.
Trump’s tariff measures have also strained the global trade rules set by the WTO. In April, a former WTO chief warned that unless the organisation reforms swiftly, the future framework for international trade could be shaped outside the 30-year-old watchdog.
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Gaziantep’s Panorama 25 December Museum, which commemorates the city’s resistance during Türkiye’s War of Independence, continues to attract strong public interest, with nearly 1.5 million visitors recorded in the five years since it opened.
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Armenia is considering the possibility of exporting goods to Azerbaijan, as discussions between the two countries continue over potential trade supplies, officials said.
New York placed the state under emergency measures on Friday as a powerful winter storm brought the heaviest snowfall since 2022, disrupting travel across the north-east of the United States.
A 7.0 magnitude earthquake struck offshore near Taiwan’s north-eastern county of Yilan late on Saturday, shaking buildings across the island, including in the capital Taipei, authorities said.
Brigitte Bardot, the French actress whose barefoot mambo in And God Created Woman propelled her to international fame and reshaped female sexuality on screen, has died at the age of 91, her foundation said on Sunday.
President Volodymyr Zelenskyy arrived in the United States ahead of talks with President Donald Trump aimed at ending the war, as Russia launched hundreds of drones and dozens of missiles at Kyiv and other parts of Ukraine overnight on Saturday, killing at least two people and injuring more than 40.
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Türkiye on Sunday denied reports that a Turkish Airlines passenger flight diverted from Libya due to fears of retaliation following a Libyan military delegation plane crash near Ankara.
Gaziantep’s Panorama 25 December Museum, which commemorates the city’s resistance during Türkiye’s War of Independence, continues to attract strong public interest, with nearly 1.5 million visitors recorded in the five years since it opened.
Armenia will start construction work on the Trump Route for International Peace and Prosperity (TRIPP) project in the second half of 2026, Foreign Minister Ararat Mirzoyan said on Sunday, as economic dialogue with Azerbaijan advances.
One person was killed and another critically injured on Sunday after two helicopters collided mid-air in the U.S. state of New Jersey, authorities said.
Ukrainian President Volodymyr Zelenskyy arrived at Mar-a-Lago on Sunday to meet U.S. President Donald Trump, who described the negotiations to end the Russia-Ukraine war as being “in the final stages.”
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