Hi friend,
As the global economy reacts to Trump’s tariff announcements – we’ve been crunching some numbers to see what it means for lower-income countries.
It’s not looking good.
Unsurprisingly, higher tariffs on exports to the US, the largest economy in the world, will directly hit countries already suffering from high debt levels.
For example, Sri Lanka, one of the 54 countries currently in debt crisis, is being hit with a huge tariff of 44% on exports. This could put severe pressure on the country’s already strained finances.
Lower-income governments will be forced to cut even more spending on vital public services, like healthcare, meaning that more people will be at risk of being pushed into poverty.
