United Nations:
The United Nations Trade and Development Agency urged the administration of US President Donald Trump to exclude the poorest and smallest economies from mutual tariffs on Monday as it would “have a minimum impact on the United States trade policy objectives.”
Trump imposed standing import tariffs ranging from 11% to 50% on 57 trading partners – including the European Union – to stop duties for all 90 days on 9 April, but China. The break has cut a rate of 10%for those states, a level that it imposed on almost all other countries.
The United Nations agency, known as UNCTAD, said that the break offered a significant moment to exempt “small, weak economies and at least developed countries, which gives no benefits for American trade policy, while potentially causes serious economic losses abroad.”
A policy insight report said that some of the countries listed in some countries in some countries in some countries have been threatened with mutual tariffs above 10% “are very small and/or financially poor with very low purchasing power.”
“As a result, they do not limit or offer any export market opportunities to the United States. Business concessions from these partners will mean very low to the United States, while potentially reducing their own revenue collection,” UNCTAD said.
Trump’s tariff stagnation The purpose is to give time to interact on deals to reduce foreign tariffs and trade obstacles. UNCTAD also stated that for 36 of the 57 trading partners listed, the new tariffs would generate less than 1% of the current US tariffs revenue.
UNCTAD also said that many of the 57 trading partners targeted by Washington have exported agricultural commodities that are not produced in the United States and for which there are some options.
“Examples include Madagascar’s vanilla and cocoa quota de evoire (ivire coast) and cocoa. Increasing tariffs on such goods, generating some revenue, are likely to result in high prices for consumers,” it has been said.
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