In a stark warning on Tuesday, OECD Chief Economist Alvaro S. Pereira highlighted that the world now faces "unprecedented uncertainty" in economic and trade policy. He pointed out that average US tariff levels are at their highest since 1936, a development that risks dampening growth across sectors and regions.
The rise in tariffs has triggered a drop in both consumer and business confidence worldwide. Companies are reconsidering investment plans amid fears of rising costs and strained supply chains, while shoppers brace for pricier imports from electronics to everyday goods.
- Consumers are likely to see higher prices on imported items, from clothing to tech gadgets.
- Businesses face disrupted supply chains and potential delays in raw materials.
- Investors are growing cautious, with market volatility spiking as trade tensions linger.
For young entrepreneurs and digital nomads, this shifting landscape underscores the importance of agile strategies and diversified partnerships. As governments and firms prepare for possible policy shifts, all eyes will be on upcoming trade discussions in major capitals. In a world where borders still shape business, understanding the ripple effects of tariffs is key to navigating tomorrow's opportunities.
Reference(s):
OECD economist: US tariff policy severely impacts global economy
cgtn.com
