By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NewsunplugNewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Reading: US-Russia Trade war will have consequences – Ngozi Okonjo-Iweala warns Trump
Share
Notification Show More
Font ResizerAa
Font ResizerAa
NewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Search
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Have an existing account? Sign In
Follow US
Newsunplug > Blog > News > US-Russia Trade war will have consequences – Ngozi Okonjo-Iweala warns Trump
News

US-Russia Trade war will have consequences – Ngozi Okonjo-Iweala warns Trump

Godson
Last updated: January 23, 2025 9:54 pm
Godson
Published: January 23, 2025
Share
SHARE

The Director General of the World Trade Organization, WTO, Ngozi Okonjo-Iweala on Thursday, January 23 warned against any reciprocated trade wars prompted by the United States, US, and President Donald Trump’s tariff threats on different countries.

Urging other states to refrain from responding in kind to Trump, Okonjo-Iweala called such a potential situation ”catastrophic.’’

Her comment came after Trump threatened trade wars against Russia over the battle in Ukraine.

Okonjo-Iweala speaking during the World Economic Forum annual meeting at the Swiss resort of Davos said: “If we have tit-for-tat retaliation, whether it’s 25% tariff (or) 60% and we go to where we were in the 1930s we’re going to see double-digit global GDP losses. That’s catastrophic. Everyone will pay.”

Referencing the two World Wars when countries adopted trade restrictions in response to a US tariff act in 1930.

“We’ve seen this movie, as I said, elsewhere in the 1930s with the Smoot-Hawley Act. It made it worse,” she said.

“We’re very much saying to our members at the WTO, you have other avenues, even if a tariff is levied, please keep calm.”

You Might Also Like

Tinubu Meets Benin, Niger, Guinea-Bissau Presidents In Aso Rock
2027: Tinubu Already Planted His Men Everywhere – Joe Igbokwe
Man Stabbed To Death Over N1,600 In Anambra (Read full story)
LP kicks against Enugu governorship poll results
ECOWAS Defence Chiefs meet in Abuja over coup in Niger Republic

Quick Link

  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Share This Article
Facebook Twitter Email Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0

Recent Posts

  • Youths capture suspected bandit during attack on Benue community
  • DSS, NIA tracking politicians behind insurgency in Nigeria- Chief of Defence Staff, Christopher Musa claims
  • ‘’His colleagues and fans have every right to show sadness over his passing whether they checked on him or not. Your uncle didn’t check on anyone either when he was strong”- Etinosa tells #BBNaija star, Uriel Oputa
  • Singer Naira Marley shares relationship advice
  • #Arsenal make complete U-turn on explosive £50m Man Utd star after ‘due diligence’…

Recent Comments

No comments to show.

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]

Top Categories

  • Entertainment

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]
© 2023 Newsunplug | All Rights Reserved.
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?