Tariffs and border control not new, says Egyptian minister

CGTN Europe

Speaking on the sidelines of the World Economic Forum in Davos, Egyptian Investment Minister Hassan El Khatib told CGTN that the world of tariffs promised by new U.S. President Donald Trump is, in effect, a continuation of the policies of his first regime and that of his successor Joe Biden.   He said bilateral deals between economic powers will be crucial in the coming years.  #wef25 #worldeconomicforum

Transcript

00:00I think this is the second term of President Trump. So the changes in global

00:06trade is already happening and we've enjoyed, my generation, three decades or

00:13three to four decades of the wonders of globalization. I think it lifted

00:19millions and millions and hundreds of millions of out of poverty. Now I think

00:24the narrative is completely different and it's not only this term but the

00:27previous term and even many of the tariffs that President Trump put in his

00:33first term was not revoked by President Biden. So the reality of the matter, this

00:38is a new world that is governed by nationalist agendas. We're back to

00:45borders, we're back to tariffs, we're back to, you know, it's my interest vis-a-vis

00:51the rest of the world. And I think the globalization as we've enjoyed that in

00:59the three plus decades prior to that, in my view, is over. It's a chapter that we

01:04need to open a new chapter. The chapter, in my view, would be the bilaterals by

01:09economic powers getting together and finding striking deals. I hope that we

01:15can do this under the provisions of the WTO still because there is no other

01:20platform that can govern all of this but the WTO's guidelines.

01:25And that's what we're trying to do in Egypt. So out of all of this, what we're

01:30trying to do is to focus on our economy, on our trade competitiveness.

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