Nobody wins in a trade war: UN chief
The statement comes after US President Donald Trump signed an executive order on Wednesday introducing “reciprocal tariffs.”
UN Secretary-General Antonio Guterres has warned that "nobody wins in a trade war," according to his spokesperson on Friday.
The statement comes after US President Donald Trump signed an executive order on Wednesday introducing "reciprocal tariffs." The move includes a 10-percent "minimum baseline tariff" and potentially higher duties on selected trade partners, drawing widespread criticism.
Responding to questions about the secretary-general's stance on the White House's new tariff policy, UN spokesperson Stephane Dujarric said, "In a trade war, nobody wins."
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He expressed concern for the world's most vulnerable nations, stating they are "the least equipped to deal with the current situation." Dujarric also noted that a global trade conflict would "negatively" affect progress toward the UN's Sustainable Development Goals.
In a separate statement released Friday, the UN Conference on Trade and Development (UNCTAD) echoed these concerns. It warned that the US-imposed tariffs would hurt vulnerable economies, emphasizing that "the global trade system is entering a critical phase -- threatening growth, investment, and development progress, particularly for the most vulnerable economies," as major powers move forward with sweeping new trade measures.
