These poor countries “will not help either balance the (American) commercial deficit or make large revenue,” Cnuced
The increase in customs duties internationally triggered by US President Donald Trump will “hurt the vulnerable and the poor” tougher, Rebecca Greenpan, the Secretary -General of the United Nations Conference and the UN.
“It is time for cooperation and not for escalation,” Ms. Greenspan added, stressing that “the rules of world trade must evolve to take into account today’s challenges, but in a way that puts the predictability and development in its core to protect the most vulnerable.”
Of the nearly 200 US trade partners, approximately Ten are the ones that corresponds about 90% of their commercial deficitCNUCED noted in a press released announcement.
The less economically developed and the small island countries, which corresponds to 1.6% and 0.4% of the USA’s current trade deficit deficit, are nevertheless more affected by Donald Trump’s duties – Donald Trump on April 2, Calculation that has left many economists uneasy.
These poor countries “will not even contribute to balance (American) commercial deficitNot even a lot of revenue, “CNUCED said.
“Many low -income economies are now facing a ‘perfect storm’ of worsening external conditions, unsustainable debt and growth slower growth,” the UN on trade and growth continued.
In general, it warned against the negative consequences for the world economy.
In a global economy with low growth and large debt, the rise of customs duties raises a risk of decreasing investment and trade flows, adding uncertainty to the already fragile environment, “the statement said.
“This can undermine trust, slow down investment and threaten growth in growth, especially in the most vulnerable countries. “
China chose to pay back US President Trump’s attack on Friday, announcing additional 34% customs duties on US products from April 10, “in addition to customs duties that are currently applicable”.
The European Union has not yet announced the retaliation measures on the 20% customs duties died by Donald Trump, but this is expected soon. At the same time, she reiterates her will to conduct “serious negotiations” with Washington.
After all, the fever in the markets continued yesterday, with many stock markets continuing the dive worldwide.
Source: Skai
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