Further, trade policies should be aligned with climate objectives and ensure that trade supports ambitious climate action and a just transition

xChennai: Amidst protectionism, the rules-based trading system is at risk of derailment, finds UN chief Antonio Guterres in his address to the UN’s Trade and Development body. While global debt is soaring, the international financial architecture is not providing an adequate safety net for developing countries.

Geopolitical divisions, inequalities, the climate crisis, and new and protracted conflicts are rippling across the global economy.

“Uncertainty is growing. Investment is retreating. Supply chains are in turmoil. Trade barriers are rising, with some least developed countries facing extortionate tariffs of 40 per cent, despite representing

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