US-China Trade War Paralyzed International Investment - UNCTAD Chief
"Investment is paralyzed because CEOs are deciding to sit and wait, which means investment will not come back at the scale the world needs," Grynspan told UN News.
She said a prolonged period of uncertainty, where everything constantly changes, is damaging because it is unknown what to do.
On April 2, US President Donald Trump signed an executive order introducing "reciprocal" tariffs on imports from other countries. The baseline rate is 10%. For a number of countries, increased rates were introduced on April 9, which were calculated based on the US trade deficit with a specific country - so that there would be a balance instead of a deficit.
However, on April 9, Trump announced that more than 75 countries did not take retaliatory measures and requested negotiations, so for 90 days, baseline import tariffs of 10% will be in effect for everyone except China. After a number of steps in the trade war, the US tariff on Chinese goods reached 145%, and China's tariff on American goods reached 84%.