Climate Change is Disrupting Global Trade

November 15, 2023--Panama's drought shows how trade disruptions from climate extremes can reverberate around the world
Around 1,000 ships pass through the Panama Canal each month carrying a total of over 40 million tons of goods-about 5 percent of global maritime trade volumes.

But water levels in this vital link between the Atlantic and Pacific oceans have fallen to critical lows because of the worst drought in the canal’s 143-year history.
Drought restrictions imposed amid insufficient rainfall at the Gatun Lake, which feeds the canal, have reduced throughput by some 15 million tons so far this year. Ships have faced an additional six days in transit. The authorities are exploring strategic options to boost the water supply in the canal.

As the Chart of the Week shows, ports in Panama, Nicaragua, Ecuador, Peru, El Salvador and Jamaica are suffering most from these delays, with 10 percent to 25 percent of their total maritime trade flows affected.

WTO issues new edition of World Tariff Profiles

July 7, 2025-The WTO published on 7 July the 2025 edition of World Tariff Profiles, which provides comprehensive data on the tariffs and non-tariff measures imposed by over 170 economies. It is a joint publication of the WTO, the International Trade Centre (ITC) and UN Trade and Development (UNCTAD).
The publication provides summary tables listing the average "bound" (maximum) tariffs and applied tariffs for each economy for both agricultural and non-agricultural products as of end-2024.

Flow Traders-Tokenization in Capital Markets: A Market Maker's Perspective

July 3, 2025-Tokenization unlocks efficiencies like instant settlement, 24/7 trading, and fractional ownership-but real-world adoption depends on solving infrastructure and regulatory challenges, not just technology.
Market makers face key friction points in tokenized markets: fragmented liquidity requiring pre-funding across blockchains, lack of product-market fit without real demand, and operational complexity from 24/7 trading.