#
Coface Risk Review - June 2025: The great leap backwards
In a context of unprecedented geopolitical and trade uncertainty, the global economy is navigating between an expected slowdown and escalation risks. Trump's tariff decisions and tensions in the Middle East are reshaping an unpredictable economic landscape for 2025-2026. In this environment, and in view of the measures already in place, Coface has downgraded 23 sectors and 4 countries.