US President Donald Trump’s “Declaration of Economic Independence” announced as a new era in global trade, while warnings continue to be made.
These warnings were recently attended by the United Nations Trade and Development Conference (UNCTAD).
UNCTAD said that Trump’s new customs tariffs have entered a critical stage with the new customs tariffs and threatened the progress in the fields of growth, investment and development, especially the most fragile economies.
In the statement, with increasing customs tariffs, global economic growth may fall further, and the following were recorded:
“In a low -growth, high -debtor global economy, high customs tariffs carry the risk of weakening investment and trade flows. It adds uncertainty to an environment that is already fragile. This can shake confidence, slow down investments and threaten the development gains of development in the most fragile economies.”
Many low -income economies face “excellent storm”
Only 10 out of 200 trade partners of the United States constituted almost 90 percent of the trade deficit of this country.
“Although the need for trade reform is clear, UNCTAD emphasizes that the solution should come through dialogue and negotiation. Commercial imbalances, extreme gains and outdated rules should be handled without sacrificing the least responsible.” his statements were included.
In a statement warning that the unpredictability and uncertainty in trade and investment for both companies and policy makers will become a serious obstacle in front of growth and planning, the decision -makers urged the customs duties to the delicate countries due to these measures that could cause great pain to millions of people.
“Trade should not become another source of instability”
UNCTAD Secretary General Rebeca Grynspan, in his assessment of the issue, underlined that the preparation of comprehensive new customs tariffs of major economies after the new customs tariffs of the United States “has damaged the vulnerable and poor segments.
Grynspan, “Trade should not become another source of instability. It should serve development and global growth. He said.
