Hey there, global thinkers! The United Nations Industrial Development Organization (UNIDO) has raised an alarm over the recent U.S. tariff hikes, warning that these measures may stall global growth and risk vital jobs worldwide. 🌏
UNIDO’s latest report argues that the tariffs "take the wrong approach," with calculations lacking the evidence needed to hit their intended outcomes. By driving up industrial production costs, these measures not only dampen economic efficiency but also reduce the benefits of trade and weaken competitiveness.
UNIDO Director General Gerd Mueller emphasized, "Rather than erecting barriers to industrial trade, a fairer and sustainable global economy should be the goal." He urged industrialized nations to collaborate with developing countries, creating win-win scenarios that promise long-term prosperity for everyone.
Adding to the concerns, the World Trade Organization's 2025 forecast predicts a 0.2% decline in global trade, highlighting uncertainties that could deepen geopolitical tensions and affect vulnerable economies. ⚠️
As the debate continues, experts stress the need to rethink these policies to safeguard jobs and promote an inclusive, sustainable global economy. Stay tuned as this crucial conversation unfolds!
Reference(s):
'The wrong approach': UNIDO warns U.S. tariffs risk global growth
cgtn.com
