By : JD News Editor
Jordan Daily – Dr. Khalid Al-Wazani, Professor of Economics and Public Policy at Mohammed Bin Rashid School of Government (MBRSG), warned that recent U.S. tariffs under President Donald Trump’s “Liberation Day” could severely restrict global trade freedom, with lasting effects even if the tariffs are removed soon.
Al-Wazani, former Chairman of the Jordan Investment Commission, suggested in press remarks the tariffs might be the catalyst for a global economic awakening aimed at restructuring the world order. “This could be the start of a global economic awakening toward reshaping the new world order if countries decide to learn from the ongoing trade war,” he said.
The economist explained that the tariffs imposed on nearly all trade partners would affect them similarly, reducing competitive advantages. He used the example of Jordan and Egypt, both exporting textiles to the U.S., noting that Jordanian exporters may have to absorb some of the tariff burden or reduce profit margins to maintain market share.
Al-Wazani also discussed the broader impact of tariffs on price-sensitive goods such as medicines and jewelry. “These products are influenced by purchasing power and external competition,” he said, emphasizing the potential need for producers to absorb costs or offer incentives to retain consumers.
While he acknowledged the U.S. market’s importance, Al-Wazani stressed that companies should look beyond it. “The global market consists of over 8 billion people, and there are alternative trade opportunities,” he argued.
Finally, Al-Wazani urged global cooperation to open markets without relying solely on the U.S. “The fear of Trump’s tariff strategy is overstated and gives the U.S. more influence than it deserves,” he said, predicting a shift away from dollar-based systems toward a more diversified global trade framework.
