(3 Minutes Read)
Philanthropist David Rubenstein shared his insights, noting that President Trump’s transactional approach to negotiations led him to doubt the likelihood of significant tariff increases.
The leader of the World Trade Organization Ngozi Okonjo-Iweala, conveyed a sense of “cautious optimism of the world trade, conveying that her approach to the U.S. President Donald Trump’s trade and tariff strategies was to remain composed and observe the actual policies that will be put into action.
She said that one should not get over-excited. The US, she said, so far has said about a slew of studies and investigations of the various trading partners and various types of trade agreements to see their impact on the United States, adding that it was a bit encouraging.
Philanthropist David Rubenstein shared his insights, noting that President Trump’s transactional approach to negotiations led him to doubt the likelihood of significant tariff increases.
He further emphasized that peace in the Middle East and efforts to resolve tensions between Russia and Ukraine would be a catalyst in pushing up world trade.
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However, Trump’s approach to tariffs has significantly weakened the World Trade Organization. During his first term in office. Stalling the appointment of new judges to the WTO he effectively stalled the WTO’s highest court by refusing to allow, and imposing unilateral tariffs on steel and aluminum imports into the United States resulting in eroding the importance of WTO Now, he has indicated that he might introduce a 10% tariff on all incoming goods.
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