10/1/2019, 11:30 AM (Source: TeleTrader)
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UN: Trade tariffs could cause 'snowball effect'

Director-General of the International Labour Organization (ILO), Guy Ryder on Tuesday said trade tariffs between the United States and Europe could cause a "snowball effect." As per his words, the world could come to "very precarious waters" in case people fail to recognize gains that could arise from international collaboration.

Speaking at the Brussel’s conference, Ryder said: "I can’t think of a time when people felt more uncertain about their futures.” He added that this kind of inconsistency has “dripped into our political life, as well as our economic and social interaction."

Ryder also said that said when world leaders are threatening with aggressive measures, business owners and employees are losing faith in trade.

Breaking the News / TF