New tariff deadline prolongs instability, say UN trade agency and analysts

The Star

The US administration's decision to extend a negotiating deadline for tariff rates is prolonging uncertainty and instability for countries, according to the United Nations trade agency and analysts in Europe.  The reciprocal tariffs imposed by the United States on goods imported into the country had been conveyed to about a dozen countries which still have until Aug 1 to negotiate for a better deal.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00and while the reciprocal tariffs will no longer go into effect tomorrow as

00:28originally announced, but be extended for another few weeks until 1st of August.

00:34This move actually extends the period of uncertainty, undermining long-term investment and business

00:40contracts and creating further uncertainty and instability.

00:45Economic uncertainty has real-world consequences, as we all know, on countries and on sectors.

00:51Adding to the uncertainty created by the tariffs and related trade measures, we're simultaneously

00:57seeing deep cuts in development aid, creating a dual shock for developing countries in

01:02the world of trade and aid.

01:04G7 countries, which together account for around three-quarters of all official development

01:09assistance, are set to slash their aid spending by 28% next year, compared to 2024 levels.

01:17This would be the biggest cut in aid since the G7 was established 50 years ago.

01:22In short, in today's context, a perfect storm is brewing.

01:28Just as trade becomes more unpredictable, external support through aid is also shrinking.

01:33But not all countries, of course, feel the impact in equal measure.

01:37All these factors hit those with the most to lose the hardest.

01:41The countries facing the highest reciprocal tariffs are also the least developed.

01:45with Lesotho, Laos, Madagascar, and Myanmar facing rates between 40 and 50%.

01:53Laopdr and Myanmar now both face a 40% rate, as announced yesterday, which is lower than

01:59the initial 48% and 44%, respectively, but still among the highest announced thus far.

02:06We have a ton of winter, but the weather is absolutely to feel.

02:22We have the blue letters from Donald Trump, which have been sent by the 1. August.

02:27The high levels should also be in force, but because the 1. August is the 1st, we all know that this time

02:33will be used to be used to be used to be used to be used on the line.

02:36I am sure it will be used to be used to be used to be used to be used in fashion.

02:39Am Ende werden wir sehen, es gibt zwar Zölle, die tun auch weh, aber sie schmerzen nicht so

02:43wie das, was wir Anfang April gesehen haben.

02:46Das Zollthema hat ja zwei negative Aspekte.

02:49Zölle an sich immer schwierig für eine globalisierte Weltwirtschaft.

02:52Das zweite Thema ist natürlich die Unsicherheit.

02:54Was kommt denn jetzt an Zöllen?

02:57I think that we will have the final final Zöller.

03:01In the transatlantic trade, there is a security plan.

03:05The Zöller do not do well, but they can live with them.

03:09They are still a bit more than that.

03:12And Trump has become a promise.

03:27That's me regardless of the case.

03:32I believe there are other seeking for us.

03:38They are Oyster

03:43They are Bridget

03:48They are at our national outset.

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