The UN announced the entry of world trade into a critical phase due to Trump's duties

The introduction of new import duties by US President Donald Trump has led to the entry of the global trading system into a critical phase. This was announced on April 4 by representatives of the United Nations Conference on Trade and Development (UNCTAD) in a statement.

"As major economies prepare to impose massive new tariffs, the United Nations Office on Trade and Development warns that the global trading system is entering a critical phase, jeopardizing growth, investment and development progress, especially for the most vulnerable economies," the experts warned.

The statement notes that world trade organization reforms should be planned through dialogue and negotiations.

"This is a time for cooperation, not escalation. Global trade rules must evolve to reflect today's challenges, but they must do so with predictability and development at their core, protecting the most vulnerable," said Rebecca Greenspan, Secretary General of UNCTAD.

The organization called for an urgent review of the imposed trade duties against countries with vulnerable economies, as this could "cause huge damage to millions of people."

Trade Warrior: How new US duties will affect the global economy

Donald Trump announced the introduction of fees for all products supplied to the United States.

On April 2, 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 raised 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.

Yuri Ichkitidze, an analyst at Freedom Finance Global, said on April 3 that the introduction of new duties could lead to a slowdown in US economic growth in 2025, as well as provoke an increase in inflation. According to him, the negative effect for the United States is associated with the "boomerang effect" — retaliatory measures and rising prices. Inflation may increase by 1-1.5% this year.