Uncertainty over both global trade and the global economy is at its highest point in more than 20 years, the Institute of International Finance reports, citing the latest readings of the World Uncertainty Index.
Why it matters: "It is a striking exhibit," IIF deputy director Emre Tiftik tells Axios in an email. "Trade uncertainty is implicitly included in the global uncertainty. However, its weight in the global uncertainty is small. And one can conclude that the sharp rise in trade uncertainty is a major factor keeping global uncertainty at elevated levels."