Increased global trade tariffs will hurt the most vulnerable and poor people, the UN’s trade and development agency said Friday, after US President Donald Trump’s measures sparked global alarm.<\/p>\n
The ensuing trade turbulence “hurts the vulnerable and the poor”, said UNCTAD Secretary-General Rebeca Grynspan in a statement.<\/p>\n
“Trade must not become another source of instability. It should serve development and global growth,” Grynspan said.<\/p>\n
Trump unveiled a barrage of import duties against dozens of countries on Wednesday, prompting China to retaliate in kind and raising the risk that other countries will follow, hurting the world economy.<\/p>\n
“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,” Grynspan added.<\/p>\n
“This is a time for cooperation — not escalation.”<\/p>\n
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