Busani Ngkaveni, a senior research fellow at the University of Johannesburg in South Africa, pointed out that US tariff policy seeks to transfer the crisis to vulnerable economies and countries in the Global South need to be vigilant in this regard.
The real consequence of US tariff policy, according to Ngkaveni, is the use of US hegemony over global production and supply networks to constrain global capital and undermine global value chains. In developing economies, especially in African countries, this protectionism will affect the process of industrial transformation.
Mokhtar Ghobashi, vice chairman of the Egyptian Center for Arab Political and Strategic Studies, believes that the U.S. government is promoting unilateralism under the concept of "America First". The US has used tariffs as "political instrument" in an effort to avoid the decline of American hegemony or the loss of its superpower status.
CMG/gnews.cz
