Imagine ordering your favourite K-pop merch only to see its price jump overnight. 😱 That’s the real-life ripple effect of new U.S. tariffs, the hot topic at a Geneva seminar during the WTO Public Forum 2025.
Organized by the Chinese mainland's Shanghai University of International Business and Economics, the session brought together experts, students, and trade geeks to chat about how unilateral tariffs affect all of us—from rice farmers in Vietnam to tech startups in Bangalore.
Key takeaway #1: Global trade takes a hit
Ju Jiandong, a professor with Tsinghua University from the Chinese mainland, shared a jaw-dropping analysis: if U.S. “reciprocal tariffs” stick around, global trade could shrink by 3.4% by end of 2025. For the U.S., imports might dip 19% and exports 12%. 📉
Key takeaway #2: Playing tariff ping-pong
Ju warned of a “vicious cycle” of tit-for-tat tariffs—kind of like endless WhatsApp forwards, but for taxes on goods. This “beggar-thy-neighbor” game could leave developing economies scrambling.
Key takeaway #3: Resilience is the name of the game
Luz Maria de la Mora from UN Trade and Development stressed that since 2016, trade uncertainty has spiked thanks to geopolitical tensions. Rising trade costs hurt the least developed countries the hardest. Her advice? Strengthen rules, get that dispute-settlement mechanism back in action, nail down free-trade deals, and build trust for long-term investment.
Key takeaway #4: Go digital or go home
Barbara Ramos of the International Trade Center threw some love at digital tools. 💡 From e-commerce to virtual trade shows, these tools can boost sales and slash costs. But governments need to level up on digital infrastructure, skills training, and clear e-rules to make it happen.
All in all, participants agreed: a rules-based, predictable multilateral trading system is key to keeping our global supply chains humming and prices stable. Now, who’s ready to trade smart? 😉
Stay tuned for more insights from #WTO2025 and follow us for the latest on how trade tweaks can touch our lives—from your morning chai latte to the next big startup pitch!
Reference(s):
China-led WTO seminar formulating response to unilateral tariffs
cgtn.com
