Vienna, April 19 -- The United Nations Industrial Development Organisation (UNIDO) on Friday published an article on its website, expressing concern over the adverse effects of the United States' recent tariff increases on global economic development and industrial growth.
UNIDO asserted that the tariff hikes "take the wrong approach," pointing out that their calculation and implementation lack evidence to support the achievement of their intended outcomes.
According to the article, these tariffs drive up the cost of industrial production, thereby undermining economic efficiency, diminishing the benefits of trade, and weakening competitiveness. The UNIDO warned that such policies will ultimately put jobs at risk around the world, affect...