New Zealand Ministry of Foreign Affairs & Trade (MFAT)’s Weekly Global Economic Roundup (September 2025) highlights mounting risks to the rules-based international trading system.
The World Trade Organization (WTO) Director-General has warned that global trade is facing its most significant disruption in 80 years, with the share of trade conducted under WTO ‘most favoured nation’ rules falling from 80% to 72%, reflecting the renewed use of tariffs, raising concerns about economic predictability and stability.
UN Trade and Development (UNCTAD)’s latest Global Trade Update points to rising trade policy uncertainty, which is often more disruptive than tariffs, as businesses grapple with unpredictable shifts. Smaller firms and exporters are especially exposed to these risks.
For the United States, these developments are highly relevant. US trade policy choices on tariffs and unilateral measures have global ripple effects, shaping the operating environment for exporters and partners such as New Zealand. Participation in trade agreements and diversification strategies remain essential for business resilience.