7 million new jobs will evaporate this year because of trade war, UN predicts

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7 million new jobs will evaporate this year because of trade war, UN predicts | CNN Business

//business-finance.news-articles.net/content/202 .. cause-of-trade-war-un-predicts-cnn-business.html

Published in Business and Finance on Wednesday, May 28th 2025 at 11:20 GMT by CNN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

The United Nations expects that millions of potential jobs will vanish this year because of an economic slowdown triggered by US President Donald Trump's trade war.

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The International Labour Organization (ILO) has reported that escalating trade tensions between the United States and China could lead to the loss of nearly 7 million jobs worldwide. According to the ILO's research, the impact would be felt most severely in Asia, with China potentially losing up to 3.5 million jobs, while the United States could see a reduction of around 1.2 million jobs. The ILO emphasized that these job losses would not only affect the two countries directly involved but would also have ripple effects across global supply chains, impacting economies and labor markets in regions such as Africa, Latin America, and Europe. The organization called for urgent international cooperation to mitigate the adverse effects of trade wars and to promote sustainable economic growth and job creation.

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[ https://www.cnn.com/2025/05/28/business/ilo-7-million-jobs-trade-war-intl ]