US, China trade war costs global value chains 3-5 years of growth, says UN

Report researching the post-pandemic future of global value chains found that trade within those supply lines shrank in absolute terms.

Trade shocks fueled by unilateral tariffs between the U.S. and China have undone three to five years worth of growth among global value chains in affected countries, according to a UN policy brief.
 

The report from the United Nations Development Programme looking at the post-pandemic future of global value chains found that trade within those supply lines shrank in absolute terms along with other types of trade. Still, they’ll remain at the core of economic recovery in the Asia-Pacific region even as global manufacturers consider moving production closer to home.

Tariffs are still being applied on billions of dollars of