UNITED NATIONS: UN Secretary General Antonio Guterres has warned that “all will lose” when countries get into trade wars, against the backdrop of tariff wars unleashed by the Trump administration.
“I think we live in a global economy. Everything is interlinked. And obviously, one of the great advantages of having a situation of free trade is to create the conditions for all countries to benefit. When we enter into a trade war, I believe all will lose,” Guterres said here on Wednesday.
He was responding to a question on the growing global trade war. US President Donald Trump, in his second term in the White House, has said America will impose reciprocal tariffs on nations that charge high levies on US goods.