ADVERTISEMENT

World Bank hopes US President 'careful' on tariffs

Kristalina Georgieva said Trump should assess the "implications" before going ahead with a plan that has sparked fears of a trade war with China and Europe and spooked world markets.

"We certainly hope that there will be a careful assessment before any further steps are taken," Georgieva told reporters when asked if she had a message to Trump, who is expected to sign off on the tariffs later Thursday.

"Because there is a law of unintended consequences...you will take a step for a reason, but you need to project a couple of steps further down the road what may be the implications of that actions," the Bulgarian former EU commissioner added.

The EU has vowed to retaliate against the tariffs with its own measures targeting not only US steel but also products such as bourbon whiskey, jeans, motorcycles, orange juice and cranberries.

ADVERTISEMENT

Georgieva, whose organisation specialises in lending money to poor countries, added that Trump should take a "carefully calibrated approach to what happens in world trade."

"When trade shrinks it has implications for the poorest populations in rich countries. The goods are more expensive and poor people spend more of their money buying these goods," she said.

Trump himself appeared to hint at carve-outs on Thursday, vowing that the tariffs which he says are aimed at saving the US steel industry and cutting its deficit would show "great flexibility" to "real friends."

He added that they would be "very fair".

European Commission Vice-President Jyrki Katainen said during the same interview that Trump's actions risked causing a shock to the global economy.

ADVERTISEMENT

"There are no winners in this trade war," he said.

"The rest of the world must adapt to the situation and try to influence the US administration's behaviour."

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Forgive me my papa - Self-acclaimed Hausa traditional ruler kneels to beg Oba of Benin

Forgive me my papa - Self-acclaimed Hausa traditional ruler kneels to beg Oba of Benin

Fubara grows Rivers IGR by over 100%, less than 1 year after Wike's tenure

Fubara grows Rivers IGR by over 100%, less than 1 year after Wike's tenure

Plateau University suspends exams over killing of student

Plateau University suspends exams over killing of student

Nigeria laughing stock of the rest of the world due to insecurity - TY Danjuma

Nigeria laughing stock of the rest of the world due to insecurity - TY Danjuma

APC group claims Tinubu’s initiatives stimulating economic recovery

APC group claims Tinubu’s initiatives stimulating economic recovery

Plateau Gov urges calm after attack that led to death of 200-level PLASU student

Plateau Gov urges calm after attack that led to death of 200-level PLASU student

NAFDAC reopens popular Ibadan supermarket shut for selling unregistered product

NAFDAC reopens popular Ibadan supermarket shut for selling unregistered product

Gov Adeleke lavished with praise for providing water, sanitation facilities

Gov Adeleke lavished with praise for providing water, sanitation facilities

CSO inaugurates campaign to combat electoral irregularities, promote reforms

CSO inaugurates campaign to combat electoral irregularities, promote reforms

Pulse Sports

Lionel Messi's son breaks the internet after scoring five goals for Inter Miami

Lionel Messi's son breaks the internet after scoring five goals for Inter Miami

Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe

Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe

Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024

Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024

ADVERTISEMENT
ADVERTISEMENT