ISLAMABAD: As major economies are set to impose sweeping new tariffs, the UN Trade and Development (UNCTAD) has warned that the global trade system is entering a critical phase — threatening growth, investment and development progress, particularly for the most vulnerable economies.

UNCTAD warns that global economic growth could decline further, and in a low-growth, high-debt global economy, higher tariffs risk weakening investment and trade flows — adding uncertainty to an already fragile context.

This should erode confidence, slow investment, and threaten development gains, particularly in the most........

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