United Nations, Aug 8 UN Secretary-General Antonio Guterres is “disheartened” by the tariffs imposed by US President Donald Trump that came into force on Thursday, according to his Deputy Spokesperson Farhan Haq.
Guterres “has made clear that he believes that all trade wars are ruinous, and they need to be avoided”, Haq said on Thursday.
“So, this is disheartening news”, he added.
Guterres is concerned about the poorest, who will be affected the most by the higher tariffs, he said.
“He wants to make sure that all governments are aware that at a time of trade wars, that measures need to be taken to protect the poorest and most vulnerable sectors of society, who will certainly suffer as a result of the higher prices”, Haq said.
A tariff of 25 per cent on most imports from India took effect on Thursday, with an additional 25 per cent to be added next week as a punitive measure for purchasing Russian oil.
The UN Conference on Trade and Development (UNCTAD)
Three developing countries will face tariffs of over 35 per cent (two of them, Myanmar and Laos, in the least-developed category), eight will face tariffs of over 25 per cent, ten will face tariffs of over 18 per cent, and 32 will face tariffs of 15 per cent, according to his executive order.
The order listed Brazil at 10 per cent, but Trump has added a 40 per cent punitive tariff over a domestic politics issue.
Trump is also abolishing on August 29 an exemption from tariffs for goods under $800 shipped individually.
India has called the tariffs “extremely unfortunate.”
It criticised the imposition of “additional tariffs on India for actions that several other countries are also taking in their own national interest”.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor