World Bank President Urges Developing Nations, Sign Trade Deals With Trump
BREITBART
(AFP) — Developing countries should strike swift trade deals with the United States at the “earliest possible” opportunity, the president of the World Bank told AFP Friday, after a busy week with global financial leaders in Washington.
Ajay Banga was interviewed by AFP at the World Bank and International Monetary Fund’s Spring Meetings, which have been held this year under a cloud of uncertainty about President Donald Trump’s stop-start tariff rollout.
The Bank has been advising developing countries to get a deal done quickly with the United States, and to then focus attention on cutting trade barriers and boosting regional flows of goods, Banga said.
“You need to negotiate trade systems with the US at the earliest possible (opportunity),” he said. “If you delay, it hurts everyone.”
Trump’s tariffs have roiled financial markets, sent volatility surging and spooked investors and consumers.
Since returning to office in January, the US leader has imposed a “baseline” 10 percent tariff on most countries, with much higher duties on China, and 25 percent sector-specific levies on areas including steel, aluminum, and automobiles not manufactured in the United States.
He also introduced much higher tariffs on dozens of countries — which have since been temporarily paused — accusing them of having an unfair trade balance with the United States
Banga also addressed the criticism leveled by US Treasury Secretary Scott Bessent at the Bank earlier this week.
Bessent criticized China’s “absurd” developing country status and called on Banga and IMF Managing Director Kristalina Georgieva to “earn the confidence of the administration.”
“I don’t think he’s wrong,” Banga said of Bessent’s comments on China.
“A country that is the size of China and the capability of China, at some point, should no longer be taking money from IBRD,” he said, referring to the International Bank for Reconstruction and Development — an arm of the World Bank that lends largely to middle-income countries.
Such a move would require the support of the World Bank’s executive board, which is made up by member states.
CONTINUE READING SOURCE ARTICLE….
Header featured image (edited) credit: DAWN NEWS YouTube tease. Emphasis added by (TLB)
••••
••••
Stay tuned to …
••••
The Liberty Beacon Project is now expanding at a near exponential rate, and for this we are grateful and excited! But we must also be practical. For 7 years we have not asked for any donations, and have built this project with our own funds as we grew. We are now experiencing ever increasing growing pains due to the large number of websites and projects we represent. So we have just installed donation buttons on our websites and ask that you consider this when you visit them. Nothing is too small. We thank you for all your support and your considerations … (TLB)
••••
Comment Policy: As a privately owned web site, we reserve the right to remove comments that contain spam, advertising, vulgarity, threats of violence, racism, or personal/abusive attacks on other users. This also applies to trolling, the use of more than one alias, or just intentional mischief. Enforcement of this policy is at the discretion of this websites administrators. Repeat offenders may be blocked or permanently banned without prior warning.
••••
Disclaimer: TLB websites contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, health, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.
••••
Disclaimer: The information and opinions shared are for informational purposes only including, but not limited to, text, graphics, images and other material are not intended as medical advice or instruction. Nothing mentioned is intended to be a substitute for professional medical advice, diagnosis or treatment.
Leave a Reply