UN Interviews Ending global trade uncertainty calls for ‘rational decisions’, says head of UN trade agency
Apr 10, 2025
Rebeca Grynspan, the head of the UN trade agency UNCTAD, shares her insights on the current global trade landscape. She highlights the adverse effects of U.S. tariffs on developing countries, calling for their exemption to mitigate economic pain. Grynspan emphasizes the necessity of rational decision-making amidst trade uncertainty and advocates for greater regional cooperation among poorer nations to enhance their negotiating power. Her vision underscores the potential of international trade to empower vulnerable economies amid challenging times.
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Global Impact of Tariffs
- Tariffs imposed by major economies affect everyone, especially vulnerable developing countries.
- Prolonged uncertainty is damaging as it paralyzes investment and hinders strategic planning.
Exempt Poorer Countries from Tariffs
- Advocate for exempting poorer countries from tariff hikes, especially if they don't significantly contribute to trade deficits or pose competitive threats.
- Analyze their minimal impact on revenue and lack of competitive threat to richer nations.
Madagascar Vanilla Tariff
- Madagascar's main export to the US, vanilla, has been targeted by tariffs.
- This highlights the need for exemptions, as Madagascar's contribution to the US trade deficit is negligible.