Maseru, Apr. 07 — A special commentator on current affairs for CGTN, also Academic Director of the Moscow based Russian International Affairs Council Andrey Kortunov says the recent announcement of the United States (U.S.) reciprocal tariffs has made almost all countries victims of its victims.
He said the precise impact of these decisions on the global economy is still hard to predict, but in the worst case scenario, they could record a rise of global inflation, a significant slowdown in economic growth worldwide and even a new global recession followed by higher unemployment and a decline in real incomes across the world.
Responding to demonstrative U.S. unilateralism, he said major economic actors might be forced to focus on regional rather than global trade chains or to shift their attention to expanding their domestic rather than foreign markets.
He said the exultant protectionism would limit the appetite and capabilities of major actors to work together in addressing common risks and challenges from climate change to artificial intelligence governance. AT/TL
