1、1SEPTEMBER 2025Global tradeupdateFacts and figuresAdobe Stock-akarawitTrade policy uncertainty looms over global marketsPolicy InsightsAdobe Stock-tonjungMonthly publication analysing trade policy and global trade data.SEPTEMBER 2 0 2 5Global tradeupdateKEY TAKEAWAYSGlobal tensions and economic chal

2、lenges are fueling trade policy uncertainty,which in turn drives trade volatility and increases risks for trade-dependent economies.Uncertainty is often more disruptive than tariffs,as firms can adapt to rising costs but struggle to plan around unpredictable policy shifts.Small firms and poor countr

3、ies are especially vulnerable,as they lack the capacity to respond to unpredictable trade environments.Stable and predictable trade policies are critical to sustaining development and growth through international trade.SEPTEMBER 2025Global tradeupdatePolicy insights2Policy uncertainty is rarely acci

4、dental;it is often a deliberate or inevitable outcome of governance in a complex world.As governments respond to shifting domestic priorities and mounting global pressures,they are frequently compelled to recalibrate their policies.These policy adjustments,while necessary,often create uncertaintybot

5、h about the scale of the changes and the timing of their implementation.On the international arena,such uncertainty is often amplified by the ripple effects of follow-up measures,creating a feedback loop that clouds global predictability.Moreover,policy uncertainty is not always a byproduct of indec

6、ision;it can be a strategic tool.Governments may employ ambiguity to test reactions or gain leverage in negotiations.While this tactic may serve their negotiating interests,it comes at a cost:it heightens risk for firms and investors and undermines the reliability of mechanisms for international coo