Global Trade Wars: A Lose-Lose Situation?

UN Secretary General Antonio Guterres warns against trade wars as the Trump administration imposes tariffs sparking global retaliatory tariffs. Guterres argues that free trade benefits all countries, while new US tariffs have led to a cycle of retaliations. Trump claims tariffs will enrich the US.

UN Secretary General Antonio Guterres has issued a stern warning on the dangers of escalating trade wars, particularly in light of the ongoing tariff disputes ignited by US President Donald Trump's policies.

Guterres highlighted the interconnected nature of the global economy and emphasized the universal benefits of free trade, suggesting that entering trade wars ultimately harms all countries involved. He made these remarks in response to questions about the growing global trade tensions.

The Trump administration has implemented tariffs on imports like steel and aluminum, prompting the European Union, Canada, and other countries to retaliate with their own levies on US goods. Despite the US president's claims that these measures will boost the American economy, critics highlight their potential to strain international economic relations.

(With inputs from agencies.)