The head of the World Trade Organization mentioned on Tuesday {that a} proposal by U.S. presidential candidate Donald Trump to impose a ten% tariff on imports would doubtless immediate retaliation from buying and selling companions, leading to a “lose-lose” scenario.
“I think we will have a little bit of a free for all which would upend the stability and predictability of trade,” mentioned Ngozi Okonjo-Iweala in response to a query in regards to the affect of Trump’s proposal to slap a ten% tariff on all imports had been he to defeat President Joe Biden within the Nov. 5 U.S. election.
“I hope sincerely that it will not happen,” she added. “And if something happens that other members will keep a cool head and not retaliate so we can preserve the world trading system that’s what I would pray.”
Source: www.anews.com.tr