Global trade disrupted by Red Sea attacks and low water in Panama Canal, UN says

The Suez Canal in Ismailia, Egypt, (Amr Nabil, AP)

The UN trade body sounded an alarm on Thursday that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal.

Jan Hoffmann, a trade expert at the United Nations Conference on Trade and Development (UNCTAD), warned that shipping costs have already surged and energy and food costs are being affected, raising inflation risks.