Tariffs to have 'catastrophic impact' on developing countries, worse than foreign aid cuts, says UN trade agency

ReutersApr 11, 2025 8:14 AM

GENEVA, April 11 (Reuters) - "Reciprocal tariffs" and countermeasures could have a catastrophic impact, even worse than foreign aid cuts, on developing countries, the director of the United Nation's trade agency told Reuters on Friday.

Global trade could shrink by 3-7% and global GDP by 0.7%, with developing countries the worst affected, the International Trade Centre said.

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