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The leading hand of the United Nations was focused on trade and development, UNCTAD said President Trump’s tariff policy Already create new costs and disruptions in the global supply chain, and for less developed countries in trade from the United States, the worst economic results have not yet gotten.
“We already see violations in the global supply network,” said Rebecan Grinspoan, the UNCTAD Secretary General. “Many executives are sitting and waiting because when there is no predictability and what you need for trade and investment is predictability and trust,” she added.
Earlier this year, Unctad published data showing global investments returned to the level of the financial crisis. An an Arn also predicts half the percentage point that will be expelled from global growth this year.
“We are experiencing that high levels of uncertainty is paralyzed businesses that affect trade, which leads to a revision of trade down,” Greenna said about the reduced global GDP forecast by 2.3%, which is 2.8%. “It’s a lot,” she said. “This is much lower than the growth we have felt over the last decade.”
US consumer inflation has increased In June, the spike is attributed to a higher cost of consumer goods imported from foreign countries Trump’s administration says Tariffs do not cause inflation.
Vietnam, Cambodia and Malaysia, three Asian countries that took advantage of the China Plus supply chain strategy, which has seen a greater transition of production to these countries, affecting the supply networks again, said Grengna. Trump threatened to add 40% tariff to any benefit that is known as the transition transition and the product’s journey begins in China, but then transferred to peoples such as Vietnam to avoid Chinese tariffs.
According to the UN official, tariff layers will lead to the most economical pain for the least developed countries that lead to trade taxes that can lead to more than 50%. “It’s a cascade,” she said.
“This will affect jobs, and it will affect stability in many countries where even growth will be lower than the world average,” Greenpoon said. “If you are taking the least developed countries in the world, 46 countries that are most vulnerable, we design that their exports can affect, and 54% decreased when tariffs are set,” she added.
Cambodia exports to the US accounts for more than 10% of its GDP, the global development center reports. Tariffs imposed by Trump administration can erase more than $ 4.5 billion for Cambodia for the next four years and clothes and travel goods Increase Risk for Cambodia’s Economic and Social Stability.
Greenpoon said it is a good sign that Trump’s administration wants Talk Trading AgreementsThese deals are difficult and require time, and the current uncertainty affects economic growth and investment.
At the same time, another inflation problem for the global supply chain has again taken up the intensification of the Hussite aggression to the cargo vessels in the Red Sea. In recent weeks have been attacked by two courts, causing them to plunge One container.
“These stifling points are very important (for trade),” Greenpoon said. “If they are broken, the whole system suffers.”
She said the latest attack in the Red Sea raised the marine insurance premium 1% above the ship, or up to $ 1 million. Added fuel costs as a result of ocean carriers that pass longer routes to avoid what the Red Sea adds to inflation. She said only the situation with the Red Sea could add 0.6% to global prices.
