Economic Instability from Tariffs Could Devastate Developing Nations: UN Trade Agency Warns

The United Nations trade agency has warned that the economic instability caused by U.S. President Donald Trump’s tariffs could have a devastating impact on developing countries. The agency stated that global trade could decrease by 3 to 7 percent, with global GDP potentially falling by 0.7 percent.

Pamela Coke-Hamilton, Executive Director of the International Trade Center, emphasized the severity of the situation. She warned that if tensions between China and the United States persist, it could result in an 80 percent reduction in trade between the two nations, with repercussions felt worldwide.

Coke-Hamilton further highlighted that the economic progress achieved in recent years by developing countries could be undone, reversing advancements in global development and prosperity.