Global trade wars could expose Zimbabwe
[caption id="attachment_121245" align="alignnone" width="300"] Industry, Commerce and Enterprise Development Minister, Mike Bimha.[/caption] A NEW paper released by the United Nations Conference of Trade and Development (UNCTAD) on Tuesday this week says Zimbabwe’s exports face an applied tariff rate of seven percent and a tariff increase of 54 percent in case of a full trade war. The tariffs were calculated under the assumption that all countries will engage in a trade war and set tariffs to their optimal mercantilist levels; including also nullifying any bilateral concessions and preferential conditions for specific categories of countries. The multilateral body observed that although there is a long history of countries blaming each other for their own economic misfortunes, during the last few months there…
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