Increased Trade Barriers Could Worry Vulnerable Populations UN Concerned About Impact of US Tariffs on Global Economy Economic Development
The United Nations has expressed concern about the potential economic impact of increasing trade restrictions, including new US tariffs. The UN warns that such measures could worsen economic problems, especially in developing countries.
This was stated by UN spokesman Stephane Dujarric, answering a journalist’s question during a daily briefing in New York. He emphasized that the global economy is already experiencing a period of low growth, and the increase in trade barriers could worsen the situation of vulnerable groups. “We are, of course, concerned about the impact of increasing trade restrictions on the global economy, particularly in developing countries,” Dujarric said.
Nevertheless, according to him, despite the increase in trade restrictions, most countries are still guided by the rules of the World Trade Organization (WTO), “which contributes to stability and confidence in the global economy.”
The question was asked of the UN press secretary in light of the decision of the new US administration to impose tariffs on imports from Mexico, Canada and China. Earlier, on January 9, in an interview with the UN News Service, Grigor Aghabekyan, a spokesman for the UN Department of Economic and Social Affairs, warned that the possibility of higher tariffs and additional trade restrictions could disrupt value chains, undermine manufacturing activity and cross-border investment, and impact import prices and drive inflation back up.