Do not impose the new American ‘tariff’ on developing countries: UN Chief of Commerce – eSHOP24X7

The United Nations have expressed concern that uncertainty in the business sector can affect the economies that already face a sensitive situation.

Previously, UN Secretary General, Antonio Geek, said Tuesday that “the commercial war is very negative”, and its terrifying results could be revealed.

The rate is an import tax that come in a country, which is generally paid by the exporter. It is taken as a percentage of the value of the goods. That is, an additional price, which makes the products expensive and generally the consumer pays it.

In an interview published in the Financial Times on Thursday, the senior UNCTAD official called to the United States to reconsider its strategy.

He said that there are 44 less developed countries, whose contribution is less than two percent of the United States trade deficit. Due to a more imposed rate, its current debt crisis will get worse.

Rebecca Greensspan told the UN News that UNCTAD is providing many cooperations to developing countries. At the same time, he advocated further strengthening regional commercial relations, which will help these countries maintain their side in international commercial conversations firmly.

This interview has been edited for brevity and clarity.

UN news: the two largest economies in the world, the United States and China, are in the process of imposing or threatening large commercial positions with each other. According to you, how big is this for us?

Rebecca Greenspan: When two main global economies prevent rates, it affects not only the economies involved in the tariff war, but in all. We already face the “new general” situation of low development and high debt, and we are concerned that the rhythm of the global economy slows down.

Our approach is on the effects of IT on countries that fight with sensitive conditions, including less developed countries and small island developing countries. What is happening with those countries really worries us.

A Factory (Archive) in China’s internal Mongolia

UN news: some experts say this may be the end of the international system created after the war. Are these apprehensions valid?

Rebecca Greenspan: We still don’t know where it will end. We are trying to tell people what is really happening and it is something that is only happening.

Its most important point is the problem of uncertainty. If we know the last situation, we will take action accordingly, we will have strategies and we can understand how to live with these decisions.

But if this uncertainty persists for a long time, where the situation is changing all the time, then it is harmful because we do not know what to do. The investment is not being made, because the senior officials are still waiting after the meeting, that is, the investment will not be at the level that the world needs.

Our first request is to make rational decisions, so that we can plan, make strategies and mold according to change. But we still don’t know what that change will be like.

UN news: You have urged to exempt the poor countries of the tariff increased by the administration of the United States. Are your concerns notice?

Rebecca Greenspan: I have not seen the analysis that we have done anywhere else, which shows that these countries are not really contributing to the US commercial deficit. Most exports sent to the United States are products and many of them have not been attacked under new rules.

These things do not compete with the USA, but they help in the production processes.

I mean that there are many countries that do not actually contribute to the deficit (commerce), and that they are not important from the income perspective (money received from tariffs). Nor are threats to the United States competition or national security.

So, perhaps we can avoid starting new bilateral agreements and dialogues and protecting these tariff countries.

In a factory called Viyat, the employees are busy making jackets.

UN news: What is your advice for a worker in the manufacturing sector in a developing country such as Vietnam or Madagascar?

Rebecca Greenspan: This is difficult to say, because some countries have been more tariff than others, so he does not know how a competitive effect will have.

What we are talking about, Madagascar is a good example of this, because there are mainly frequency exports to the United States. Its contribution to the United States trade deficit is so low that it is not even registered, so it makes no sense to punish the country in this way.

UN news: What is the role of UNCTAD in supporting developing countries?

Rebecca Greenspan: As an organization, we analyze trade, investment, financing and technology from the point of view of development, that is, we help countries take advantage of commercial opportunities.

We are not involved in commercial conversations. These are in the World Trade Organization, but we will help developing countries to obtain better commercial conditions and perform better of their economies worldwide.

UN news: You have advocated more businesses within the regional blocks of developing countries, where you can keep your point in conversations with rich countries. Will it be useful in such a situation?

Rebecca Greenspan: Africa has a great opportunity with the African free trade sector. According to our data, this can add about 3 billion dollars to the African economy.

This is a great opportunity, and if they can increase speed, they can take advantage of a large market and shape large -scale economies.

African countries need to diversify their economies, because if they continue their dependence on basic products, they cannot provide services and income to their population, which are entitled.

Commercial relations with ASEAN (Organization of Southeast Asian countries) and Murkosur (Southern Shared Market) are deepening Southeast Asia and parts of Latin America. These associations can be very important, especially at this time.