The United States' recent tariff policies are creating obstacles for global businesses and economic stability, according to Mark Greeven, Dean of Asia at the International Institute for Management Development (IMD). In a stark assessment, Greeven emphasized that tariffs rarely yield positive outcomes and cautioned that unilateral measures could harm international trade dynamics in the short term.
Greeven noted that multinational corporations, particularly those with supply chains spanning Asia and the West, face rising operational costs and logistical challenges. He highlighted concerns over market uncertainty, which could deter investment in sectors ranging from technology to renewable energy. "This approach risks fragmenting the global economy," Greeven stated, urging policymakers to prioritize multilateral cooperation.
Business analysts suggest the tariffs may particularly affect Asia's export-driven economies, where manufacturers are already navigating inflationary pressures. While some economies may adapt by diversifying trade partnerships, Greeven warned that prolonged trade barriers could stifle innovation and consumer affordability.
