Cuts in global trade barriers needed to avert worst effects of president’s trade war.
The World Bank effectively endorsed President Donald Trump’s complaint about the high tariffs that other nations impose on American products, calling for U.S. trading partners to sharply reduce their import taxes to more closely match the lower levies typically imposed by Washington.
The president says it is unfair that American companies face higher trade barriers in Europe, Japan and China than foreign businesses confront when they sell their products in the U.S. market. The World Bank’s top economists agreed, calling for an across-the-board reduction in tariffs.
