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What Are Trump's Tariffs?

The sweeping tariffs introduced by President Donald Trump have raised serious concerns among economists. Experts warn that global South countries may face significant repercussions from this policy.

Impacts on Supply Chains

Jayati Ghosh, an economics professor at the University of Massachusetts Amherst, questions the effects of canceled export orders. She emphasizes that this could weaken supply chains and lead to further economic issues. "As with past self-inflicted economic crises, the U.S. economy will suffer, but the heaviest burden will fall on the developing world,” Ghosh stated.

Effect on the Apparel Industry

According to data from the International Trade Centre, Bangladesh, the second-largest apparel exporter globally, could lose up to $3.3 billion in annual exports to the U.S. by 2029 if the current 37% tariff remains in effect. This poses a concrete threat to the livelihoods of many workers in the sector.

Economic Crisis Responsibility

The Bahamas has also expressed deep concerns over actions by the U.S. president. As the economic crisis expands, families in the Bahamas will need to grapple with further rising prices. The Bahamas Chamber of Commerce stated, "It’s already tough for Bahamians to deal with the cost of living," warning that the situation may worsen.

Cooperation Among Global South Countries

The Chinese Ambassador to The Bahamas, Yan Jiarong, explained the adverse nature of the Trump administration’s tariff policy. He urged Global South countries to strengthen cooperation, stating, "Countries in the Global South – including the Bahamas – should enhance South-South cooperation to deepen industrial coordination."