Trump’s tariffs imposition can trigger global trade war, job losses, higher consumer prices – ITUC

• The International Trade Union Confederation said Donald Trump's tariffs imposition can trigger a global trade war, job losses, and increased consumer prices
• ITUC said Trump’s trade policies have far-reaching effects on workers globally
• It said the trade policies could exacerbate economic inequality and destabilise global markets

The International Trade Union Confederation (ITUC) says the new trade tariffs imposed on countries by the President of the United States of America, Donald Trump, could spark a global trade war, lead to job losses, and increase consumer prices.

ITUC argued that the tariffs, which were unveiled on April 2, prioritised national competition over international solidarity.

In a statement released on Thursday, April 3, signed by its General Secretary, Luc Triangle, ITUC described the move as a reckless economic manoeuvre that will disproportionately affect workers while benefiting corporate elites.

The global trade organisation stated that international trade should promote social justice, equitable economic growth, and the creation of decent jobs with fair wages and strong labour rights.

It warned that the US government’s weaponisation of tariffs would have the opposite effect, exacerbating economic inequality and destabilising global markets.

“These tariffs are not part of any serious plan to support working people.

“The Trump Administration has launched a trade war that will put workers’ jobs and livelihoods at stake.

“It will also lead to price increases, for which workers and consumers will bear the costs,” Triangle said.

ITUC says Trump’s trade policies have far-reaching effects on workers

The ITUC said it championed a race to the bottom in wages and working conditions, which is being threatened by Trump’s trade policies as they undermine multilateral trade agreements and hinder economic progress in developing nations.

It warned that higher tariffs on imports would affect the working people, who would bear the brunt of increasing production costs.

The ITUC added that trade restrictions would further widen economic disparities as they would prevent other countries from developing their economies fairly.

“With his attacks on workers—from breaking unions to cutting public services and laying off tens of thousands of unionised workers in the US—Donald Trump has shown that his intention is not to create more jobs, but rather to advance a billionaire extreme-right agenda,” Triangle stated.

Trump imposed a 14% tariff on exports from Nigeria, others

On April 2, President Trump announced sweeping tariffs, including a baseline 10 per cent tariff on US imports and reciprocal tariffs against countries that impose higher duties on US goods.

The new tariffs, which take effect immediately, apply to over 50 countries, including China, the European Union, India, Japan, and developing economies in Africa, Asia, and Latin America.

The tariff imposition extends to Nigeria, Ghana, Ethiopia, Mauritius, Algeria, and other African countries.

While Nigeria currently imposes a 27 per cent tariff on US goods, the US announced that it will apply a 14 per cent reciprocal tariff on Nigerian exports under the new law.

Trump said the move aims to supercharge America’s economy and force open foreign markets that are accused of shutting out US goods.

“This is one of the most important days in American history.

“We will supercharge our domestic industrial base. We will pry open foreign markets and break down foreign trade barriers,” Trump said.

IMF warns of global risks from Trump’s proposed economic policies

Meanwhile, TheRadar earlier reported that the International Monetary Fund (IMF) raised concerns over potential global economic disruptions stemming from the policies of incoming U.S. President Donald Trump.

The IMF highlighted that Trump’s proposed tariffs could escalate trade tensions, disrupt supply chains, and distort trade flows.