Some of the world's poorest countries, including nations grappling with protracted humanitarian crises, are among those most affected by US President Donald Trump's new trade tariffs regime, which has compounded pre-existing economic strains and debt woes. Asian markets will be particularly hard hit, including imports to the US from Myanmar to be charged at 45%, and Bangladesh at 37%. Big charges were also imposed on fragile economies in the Middle East and North Africa, with Syria at 41%, Libya at 31%, and Iraq at 39%. But among the worst effects will likely be felt in Africa, where Trump's decision has created an "inexplicably cruel situation," according to the Center for Global Development (CGD [16]). "It is hard to fathom that the administration set out to destabilize poor African countries and unclear what they hope to gain," wrote [17] CGD researchers. The tariffs have effectively tanked the African Growth & Opportunity Act (AGOA [18]), which allowed duty-free imports to the US for 32 countries and was credited with helping economic growth. Lesotho and Madagascar could be among the Trump tariffs' biggest losers, CGD predicted. Amid existential financial worries in the international aid sector—triggered by Trump's closure of USAID [19]—economists have also raised the possibility of a global trade war, with far-reaching ramifications for inflation and the cost of living worldwide.
From The New Humanitarian [21], April 4
Note: Fluctuations in the price of oil and grain [22] since the start of the Ukraine war in 2022 have contributed to popular privation and unrest worldwide.
