Agenda - U.S. Global Tariff Escalation and Its Economic Consequences with a Focus on Escalating U.S.–China and U.S.–

India Trade Tensions

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ECOFIN

Agenda: U.S. Global Tariff Escalation and Its Economic Consequences with a Focus on Escalating U.S.–China and U.S.–India Trade Tensions

 

Global tariff escalation remains one of the most pressing challenges in today’s interconnected economy. The imposition of tariffs by the United States on major trading partners such as China and India has triggered retaliatory measures, threatening the stability of global trade flows. These disputes undermine the rules-based trading system, disrupt supply chains, increase costs for businesses, and fuel inflation that directly impacts consumers worldwide.

 

The complexity of tariff wars demands a nuanced approach that takes into account varied economic realities across regions. In China, U.S. tariffs have disrupted manufacturing exports, weakened agricultural trade, and accelerated technological decoupling. India faces tariff pressures on steel, aluminum, and agricultural goods, while also contending with domestic issues of unemployment and inflation. Southeast Asian economies, heavily integrated into regional supply chains, experience collateral damage as production networks shift. In Latin America and Africa, rising protectionism threatens commodity exports and investment flows, deepening economic vulnerabilities. Even within the United States, industries dependent on imports and exports confront higher costs and reduced competitiveness, while consumers face increased prices.

 

These tensions are not confined to bilateral relations but ripple across global markets. Investors react with caution, currencies fluctuate, and developing economies reliant on predictable trade suffer disproportionately. The challenge lies in reconciling sovereign economic interests with the stability of global commerce.

 

At JBMUN, the delegates of the Economic and Financial Committee (ECOFIN) will be tasked with addressing the economic consequences of escalating tariffs.

 

Tariffs are not abstract policies they directly affect industries, workers, and households, making this agenda a test of economic diplomacy and multilateral cooperation.

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Please Note - This committee will consist of delegations with two delegates each.

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