UN body warns of ‘catastrophic’ impact of US-China trade war on developing countries

Developing countries will have to reinvent themselves in the face of the disproportional turbulence of international trade, diversifying their export customers, adding value to their domestic production and combining regionally, recommends the United Nations.

The trade measures adopted by the United States and China risk seriously affecting the economies of developing countries, hitting them even harder than reducing foreign aid, the director of the International Trade Center, an agency that monitors trade, warned on Friday.

UN body warns of ‘catastrophic’ impact of US-China trade war on developing countries

The executive director of the International Trade Centre stated that the tariffs being levied by US and China could cause the global GDP to suffer as well.

The United Nations says the Trade War is disastrous for developing Countries

The tariffs imposed by US President Donald Trump on almost the entire world, and the countermeasures of other countries, could have “catastrophic” consequences for developing countries, a United Nations agency warned on Friday. World trade could fall by between three and seven percent, and countries’ GDP by 0.7 percent. Developing countries will be hit hardest, […] The post The United Nations says the Trade War is disastrous for developing Count…

Havana, Apr 12 (RHC) China's Trade Minister Wang Wentao said in Beijing that the continued introduction of tariffs by the US will cause great harm to the developing world and can even trigger a humanitarian crisis.

The International Trade Center estimates that the tariff war could cause global trade to contract by between 3% and 7%. The human rights office warns that Israel's actions in Gaza are increasingly endangering the existence of Palestinians as a group. A girl is raped […]