Sunday, February 16
04:53 AM

Economic stability threatened by trade measures: UN

4 Feb 2025

New York, USA – The United Nations has voiced concerns over the impact of increasing trade restrictions on the global economy, particularly in developing nations and among vulnerable populations.

UN spokesperson Stéphane Dujarric highlighted these worries following Washington’s decision to impose new tariffs, including a 25% duty on goods from Mexico and Canada and a 10% tariff on imports from China. The measures affect trade worth approximately $1.6 trillion between the United States and these three countries.

Economists warn that such restrictions could disrupt supply chains, increase consumer costs, and hinder global economic growth. The UN also expressed alarm over the suspension of US foreign aid, with Dujarric stressing that some affected programmes are vital for life-saving humanitarian efforts.

Meanwhile, reports indicate that businessman Elon Musk is involved in efforts to shut down the US Agency for International Development (USAID) as part of President Donald Trump’s initiative to reduce federal spending and government size.

The developments have sparked concerns over the wider consequences of US trade and aid policies on global economic stability and international relations.

© 2021 Apex Press and Publishing. All Rights Reserved. Powered by Mesdac