English
Trade banks today are faced with a whirlwind of new changes and challenges. From tariffs and trade wars to digitalisation and data migrations, it can be a difficult space to operate in.
The WTO’s Global Trade Outlook 2025 reveals a projected decline in global merchandise trade, rising protectionism, US-China decoupling, and a surprising resilience in services trade amid growing global uncertainty.
The UK government has suspended third-country duty – also known as MFN tariffs on 89 products, expressing an ambition that the savings will be passed on to consumers. Whilst timing of the press release appears to coincide with the imposition of 10% US tariffs applied in addition to existing most favoured nation (MFN) rates on most UK exports to the United States, the suspended tariff announcements are the outcome of a 2024 consultation.
The worlds of 2015 and 2025 present a fascinating contrast in terms of technological advancements, societal shifts, and global challenges.
