World Trade Organization warns of rising global trade disruptions

The global trading system is facing significant disruption, with the World Trade Organization (WTO) reporting that tariffs and trade restrictions now affect 11% of global imports, the highest level in over 15 years. Robert Staiger, chief economist at the WTO, noted that while the nature of trade is shifting—specifically with digitally provided services growing fivefold since 2005 to represent 55% of global service exports—the existing rules must evolve to keep pace with these changes.

Artificial intelligence is identified as a driver of trade resilience, though Staiger warned that AI-related trade is concentrated among a limited number of countries and that the current investment boom may not be permanent.

Economist Carlo Altomonte of SDA Bocconi emphasized that despite geopolitical tensions and attempts by major powers to create fractured economic zones, 30 years of globalization have created deep interdependencies. He suggested that success in this transition depends on managing these interconnections. He noted that Italy’s reliance on small and medium-sized enterprises, while historically a weakness regarding scale, offers advantages in flexibility and adaptability in a changing global market.