The World Trade Organisation Director General Ngozi Okonjo-Iweala has warned the United States President Donald Trump of the dangers embedded in imposing tariff.
The republican president has threatened Russia, China, Mexico, th EU and virtually all countries that do businesses with his country.
But Okonjo-Iweala, a former minister of economy in Nigeria, asked Trump to chill and avoid hyperventilation.
“Please let’s not hyperventilate. I know we are here to discuss tariffs. I’ve been saying to everybody: could we chill, also. I just sense a lot of hyperventilation,” She noted.
“We are very much saying to our members at the WTO: you have other avenues. Even if a tariff is levied, please keep calm, don’t wake up and without the necessary groundwork levy your own,” she said.
“If we have tit-for-tat retaliation, whether it’s 25 percent tariffs, 60 percent, and we go to where we were in the 1930s, we are going to see double-digit global GDP losses, double-digit. That’s catastrophic.”
Follow us on social media
