ICC Official Says Trade Uncertainty Is Growing

(MENAFN) The international commerce framework is currently grappling with levels of instability rarely witnessed before, due to tariffs and protective economic strategies, according to the trade director at the International Chamber of Commerce (ICC), in a conversation with a news agency.

Valerie Picard explained that the resurgence of protectionist measures and the increasing politicization of trade governance are amplifying instability and placing mounting pressure on enterprises.

“What we’re hearing across our network is clear: the greatest challenge is no longer just complexity and cost—it’s unpredictability,” she said.

“That’s why ICC is advocating for a fundamental revitalization of the World Trade Organization, anchored in its founding purpose,” she noted.

“We’re calling for urgent progress focused on restoring a functioning dispute settlement system, updating trade rules to reflect today’s economy—from digital trade to services—and reinforcing transparency and cooperation.”

Picard pointed out that trade deals between two nations or among regions can offer advantages such as stronger collaboration and swifter resolutions on specific issues.

However, she warned that these types of pacts can also contribute to increased global division if they stray from multilateral frameworks.

“This is exactly why reinvigorating multilateral rulemaking is essential,” she said.

“The global economy needs a baseline of clear, coherent, and non-discriminatory rules. Without that foundation, trade becomes harder to navigate, especially for smaller firms and those in developing countries.”

Picard remarked that small and mid-sized businesses form the backbone of the economic system, yet they encounter the toughest hurdles in global commerce—ranging from limited financing options and inadequate access to market intelligence to regulatory burdens.

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