UNIDO Warns: U.S. Tariffs Could Hurt the World’s Economy 🌍

Hey there! Have you ever traded snacks with your friends at school? Maybe you swapped a cookie for a piece of candy? Imagine if someone suddenly made it harder or more expensive for you to trade those snacks. That wouldn’t be fun, right?

Well, something similar is happening in the grown-up world. The United Nations Industrial Development Organization (UNIDO) is worried about new tariffs (that’s a fancy word for taxes on things traded between countries) that the United States has put in place.

UNIDO says these tariffs are like putting up walls between countries, making it harder for them to trade with each other. This can make things more expensive to produce and buy. It might even lead to fewer jobs for people around the world!

Gerd Müller, the Director General of UNIDO, said, “Rather than building barriers, we should work together to create a fair and sustainable global economy.” That means countries should help each other out so everyone can do well.

The World Trade Organization (WTO) also mentioned that because of these tariffs, global trade might go down. That could make it harder for people to get the things they need or want.

So, just like it’s better when you and your friends can trade snacks freely, countries trading fairly helps everyone get along and prosper! 🍪🤝🍭

Reference(s):

'The wrong approach': UNIDO warns U.S. tariffs risk global growth

cgtn.com