The UN warned about the absence of winners in trade wars

In global trade wars, no one can win, the representative of the UN Secretary General Stephane Dujarric warned about this on April 4, commenting on the increase in US duties.

"There can be no winners in a trade war. Currently, we are worried about the most vulnerable countries, which are least prepared to cope with the current situation," he said at a briefing. The broadcast was carried out on the UN website.

The representative of the Secretary General added that the trade war that has begun will negatively affect the implementation of the Sustainable Development Goals (SDGs), developed in 2015 by the UN General Assembly as "a plan to achieve a better and more sustainable future for all."

Trump is fighting tariffs with the global economy. Analysis

On April 2, US President Donald Trump announced large-scale measures: base tariffs of 10% are being introduced for all products supplied to the United States. For Europe, this figure has been increased to 20%, and for China — to 34%. In his speech, the president called April 2 the day when Americans will become rich again. The next day, the Chinese authorities decided to impose retaliatory duties of 34% on goods imported from the United States.

German Chancellor Olaf Scholz said on April 3 that the import duties announced by Trump were a mistake. He stressed that the current trading system is an achievement of the United States that has contributed to global prosperity. However, the new package of duties casts doubt on the achievements of the European Central Bank in combating inflation and poses a threat to the global economy.

On April 4, Freedom Finance Global analyst Yuri Ichkitidze said that the trade war between China and the United States is damaging both sides, and the situation is becoming less predictable.