UN chief on U.S. tariffs: Nobody wins in a trade war

UN Secretary-General Antonio Guterres on Tuesday reiterated the UN's stance that "nobody wins in a trade war."

In response to a query during a press conference on the recent decision by U.S. President Donald Trump to impose a minimum 10-percent tariff on nearly every country in the world, Guterres said trade wars are extremely negative.

He said he is "particularly worried" at the impact rising tariffs could have on vulnerable developing countries, warning that it could be "devastating."

"I sincerely hope that we will have no recession, because a recession will have dramatic consequences, especially for the poorest people in the world," the UN chief added.