2 days ago
Zambian expert urges return to rule-based global trading system
LUSAKA, Aug. 19 (Xinhua) -- Countries need to return to a rule-based international trading system to ensure fairness and stability in global trade, a Zambian development expert has said.
Fredrick Mutesa, secretary general of the Zambia-China Friendship Association, stressed the importance of adhering to a trading system governed by the World Trade Organization (WTO), especially as many countries, including the United States, are signatories to its conventions.
"It is important that the international community, particularly the global economy, operates on the basis of a rule-based system -- in this case, the rules and regulations laid down by the WTO," Mutesa said in a recent interview with Xinhua, following the U.S. decision to impose import tariffs on its trading partners.
He warned that policies diverging from this framework undermine the proper functioning of the international trading system, while urging African countries to raise their voices against measures that could hurt their economies.
Mutesa noted that the tariff measures might not even benefit U.S. consumers, who rely on imported goods, or farmers who depend on access to foreign markets like China, with delays in fully enforcing the tariffs indicating that analysts are still evaluating potential consequences, some of which may be detrimental to U.S. interests.
Since returning to office in January, U.S. President Donald Trump has introduced a series of import tariffs, varying by country. He has argued that the tariffs are intended to boost American manufacturing and protect domestic jobs.
