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Nobody wins trade wars, Guterres warns
A Singaporean cargo ship docks in a northern European port, having navigated the busy East Asia-Europe transit. UNCTAD Photo
8 April 2025 - The UN Secretary-General on Tuesday warned that when it comes to trade wars, “nobody wins” and “everybody tends to lose.”
António Guterres was responding to a journalist at the stakeout in UN Headquarters in New York, who asked him for reaction to the recent decision by United States President Donald Trump to impose a minimum ten per cent tariff on nearly every country in the world.
Tariffs are a tax on imports coming into a country which are usually charged to the exporting nation as a percentage of value.
Concern for vulnerable developing economies
“Trade wars are extremely negative,” the UN chief said, adding that he was “particularly worried” at the impact rising tariffs could have on vulnerable developing countries, warning that it could be “devastating”.
“I sincerely hope that we will have no recession, because a recession will have dramatic consequences, especially for the poorest people in the world,” the UN chief added. – UN News