The World Trade Organization (WTO) director-general has called on US President Donald Trump not to impose hefty tariffs on aluminum and steel exports, saying it could cause a deep global recession.
“An eye for an eye will leave us all blind, and the world in deep recession,” Roberto Azevedo told members of his organization on Monday. We “must make every effort to avoid the fall of the first dominoes.”
Last week, Trump announced that his country would impose a 25 percent tariff on imported steel and a 10 percent tariff on aluminum to protect American producers, but critics have said it would fail to boost jobs and risks starting a trade war with China.
The US oil and gas industry pounced on Trump’s plan to slap tariffs on steel and aluminum, saying the controversial move would kill energy jobs by raising costs for big infrastructure projects.
The Thursday announcement was also met with swift threats from the international community, including…