The sweeping tariffs imposed by U.S. President Donald Trump could severely impact countries in the Global South, experts have warned.
Jayati Ghosh, an economics professor at the University of Massachusetts Amherst, expressed concerns that the cancellation of export orders could weaken global supply chains. “As with previous self-inflicted economic crises, the U.S. economy will undoubtedly suffer, but the heaviest burden will fall on the developing world. Cancelled or delayed export orders are already undermining production and fueling unemployment,” wrote Professor Ghosh in an op-ed titled “The Global South Will Pay for Trump’s Trade War.”
According to data from the International Trade Centre, Bangladesh, the world’s second-largest apparel exporter, could lose $3.3 billion in annual exports to the U.S. by 2029 if the U.S. tariff of 37 percent remains in place after the pause.
The Bahamas has also expressed “deep concerns” over the U.S. president’s move to ignite a trade war, warning that it will exacerbate inflation and the cost-of-living crisis that many Bahamian families are “already struggling with.” The island nation, which imports virtually all the physical goods it consumes and has limited domestic production capacity, is particularly vulnerable to the imposition of tariffs. “With Bahamians already struggling with inflation and the high cost of living, this is definitely very bad news,” said the Bahamas Chamber of Commerce and Employers Confederation in a statement.
Chinese Ambassador to the Bahamas Yan Jiarong highlighted the detrimental effects of the tariff policy in a recent article, calling on Global South countries to jointly oppose tariff and trade bullying. “Global South countries—including the Bahamas—should strengthen South-South cooperation to deepen industrial and supply coordination and enhance economic resilience and self-development capacity to collectively safeguard our development rights,” Yan stated.
Yan also reiterated China’s role as an “anchor of stability” for the multilateral trading system, emphasizing its commitment to further opening up its economy.
