1 week ago
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TEMPO.CO, Jakarta - United Nations Secretary-General Antonio Guterres on Tuesday assessed that the trade war resulting from U.S. President Donald Trump's tariff policies against other countries harms the world.
According to Guterres, as reported by Antara, such a situation will not produce winners.
Guterres said trade wars are highly negative. There are no winners; everyone tends to lose, to the media when asked about the latest tariffs imposed by the Trump administration.
Previously, as reported by TBS News, through UN spokesperson Stephane Dujarric, Guterres expressed his concern for the world's most vulnerable countries.
He stated that they are the least prepared to face the current situation. Dujarric also noted that global trade conflicts will have a "negative impact" on the progress towards the UN Sustainable Development Goals (SDGs).
The UN Conference on Trade and Development (UNCTAD) echoed these concerns in a separate statement released on Friday.
They warned that the tariffs imposed by the U.S. would harm vulnerable economies. They emphasized that the global trade system has entered a critical phase, threatening growth, investment, and development progress, especially for the most vulnerable economies, as major economies continue to advance with comprehensive new trade measures.
Last week, Trump signed an executive order imposing reciprocal tariffs on U.S. trading partners. They are China (34 percent), Japan (24 percent), and South Korea (25 percent).
Trump also signed an executive order imposing a 25 percent tariff on imported cars, light trucks, and foreign-made parts, stating that the measure was necessary to protect "national security."
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