New York: UN Secretary-General Antonio Guterres has expressed strong concerns over the implications of a trade war, emphasizing that “nobody wins in a trade war,” as conveyed by his spokesman.
According to Ethiopian News Agency, the statement came in the wake of U.S. President Donald Trump’s recent executive order instituting “reciprocal tariffs.” This order enforces a 10-percent “minimum baseline tariff” and imposes higher rates on specific trading partners, despite facing widespread opposition.
When questioned about Guterres’ perspective on the White House’s latest tariff policy, Stephane Dujarric, the UN secretary-general’s spokesman, reiterated that “in a trade war, nobody wins.” He highlighted concerns for the most vulnerable countries, stressing that they are the least equipped to handle the ramifications of the current trade situation.
Additionally, Dujarric pointed out the potential negative impact on the UN Sustainable Development Goals, should a global trade war escalate. The UN Conference on Tra
de and Development (UNCTAD) also issued a statement warning that the tariffs implemented by the United States could have detrimental effects on vulnerable countries.
The UNCTAD statement elaborated that the global trade system is entering a critical phase, which threatens growth, investment, and developmental progress, particularly for the most vulnerable economies, as major economies prepare to implement extensive new tariffs.