Former World Bank Group President David Malpass has backed Donald Trump’s sweeping tariff policy, describing it as a unique opportunity for the United States to rebuild its economy and renegotiate global trade deals.

Malpass made this statement during an interview with Fox News on Friday, following Trump’s announcement of a 10% global tariff on all imports into the US, along with additional reciprocal tariffs targeting specific countries.

The bold tariff move has already shaken the global economy, sparking reactions from various international markets, including a dip in the US stock market.

“The opportunity is to rebuild the global trading system in a way that works for the United States, which we didn’t have,” Malpass stated on X (formerly Twitter).

He argued that the tariff strategy could correct long-standing unfair globalist trade agreements that have weakened America’s industrial base.

HEED: Follow us on Instagram or any other social media platform and get the most reliable news directly in your favourite app!

Meanwhile, China responded with a strong countermeasure, slamming the US with a 34% tariff on all American imports. Reacting to China’s move, Trump stated, “China played it wrong.”

As tensions rise between the world’s two largest economies, the global trade system may be heading toward a significant reset.

NaijaBlogDaily# is visible on all social media platforms, and we bring you the latest Nigerian news on politics and economy, entertainment, and celebrity updates, including sports across Nigeria and beyond…

Keep visiting and following up with us on any social media platform you are using to keep you updated 💯
Remember (information brings knowledge and power).
STAY TUNED!!!