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The U.N. trade body sounded an alarm Thursday that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal
Attacks against shipping in the Red Sea by Houthis are devastating for global trade and supply chains, already reeling under the impacts of the war in Ukraine and climate change-linked conditions in the Panama Canal, said the UN trade and development body, UNCTAD, on Thursday.
Freight going through the Suez Canal has dropped by 45% in the two months since attacks by Yemen's Houthis led shipping groups to divert freight, disrupting already strained maritime trading routes, according to UN agency UNCTAD. UNCTAD, the United Nations Conference on Trade and Development, which supports developing countries in global trade, warned of risks of higher inflation, uncertainty of food security and increased greenhouse gas emissions. Shipping companies have diverted ships from the Red Sea since the Iran-alighned Houthi movement, which controls most of the populated parts ...
Recent attacks in the Red Sea, the ongoing war in Ukraine and depleted water levels in the Panama Canal are causing disruptions in global trade, the United...
UNITED NATIONS (AP) — The UN trade body sounded an alarm Thursday that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal. Jan Hoffmann, a trade expert at the United Nations Conference on Trade and Development known as UNCTAD, warned that […]