The World Bank on Tuesday agreed with President Trump’s complaint that foreign countries engage in unfair trade practices with the US and urged the nations to ease their tariffs on American exports.
Top economists at the international institution, which helps finance low and middle-income countries, acknowledged that many nations do not provide reciprocal trade access to the US.
“This [situation] could not be sustained indefinitely,” the World Bank’s chief economist, Indermit Gill, said during a news briefing, the Washington Post reported.
Gill said the World Bank has had to sharply lower its global growth forecasts because of Trump’s blizzard of tariffs to try to help right the situation and amid the ongoing uncertainty over global trade.
But he contended that Trump’s actions were merely a response to uneven trade access between other countries and the US.
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Author: Dillon B
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