At the 2025 International Democracy Union Forum, former Vice President Dr. Mahamudu Bawumia delivered a compelling address on the urgent need to address trade wars and the evolving geoeconomic landscape.
Joining a high-level panel of global leaders, Dr. Bawumia tackled the crucial subject of “Trade Wars, Tariff Battles and the New Geoeconomic Order: How to Restore Stability.”
In his remarks, Dr. Bawumia underscored that trade imbalances are fundamentally rooted in macroeconomic disparities.
He asserted that tariffs alone cannot rectify these issues, emphasizing that historical precedents demonstrate the futility of using tariffs as a remedy for complex economic challenges.
“The reality is clear: attempts to fix macroeconomic imbalances through tariffs are bound to fail,” Dr. Bawumia stated. “We must shift our focus from short-term fixes to addressing the underlying causes of these imbalances.”
A significant portion of his discussion centered on the critical importance of trust in international trade negotiations.
Dr. Bawumia described the current climate as characterized by “Mutually Assured Suspicion,” particularly in light of ongoing tariff conflicts involving major economies like the USA and China.
He warned that this pervasive mistrust could lead to suboptimal outcomes in trade discussions.
“To navigate these turbulent waters effectively, we must prioritize rebuilding trust among global players,” he urged. “It is only through open dialogue and mutual understanding that we can hope to restore stability and foster constructive economic relationships.”
Dr. Bawumia’s insightful analysis resonated with fellow panelists and attendees, highlighting the necessity for collaborative efforts to resolve mistrust and promote sustainable trade practices.
As global leaders grapple with the complexities of trade wars, his call for a renewed focus on trust may serve as a pivotal step towards achieving economic stability.
As discussions continue in Brussels, stakeholders are left reflecting on how best to implement these ideas and foster a more cooperative international trade environment.
Story Written By Adu Kingsley | Kobby Kyei News
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