President Tokayev warns of inevitable impact of tariff wars on Kazakhstan

According to President Kassym-Jomart Tokayev, the current tariff war could trigger a global economic storm that would eventually hit Kazakhstan as well. However, the president believes that there is no reason to panic, as reported by the Akorda.

«What is happening all over the world right now could become a harbinger of a global economic storm. Many experts believe that the world is on the verge of one of the direst crises in decades,» Tokayev said.  

The president emphasized that despite a 90-day moratorium for new U.S. tariffs, they have already stirred the international community. Moreover, the tariff war may severely disrupt supply chains, leading to market crashes and other problems.

«This will inevitably impact all countries, including Kazakhstan. Although the 90-day pause on high tariffs is in effect, the market is still extremely unstable. Therefore, we are working on mitigating the negative consequences for Kazakhstan’s economy caused by this economic storm,» the president stated.

Yesterday, on Apr. 9, U.S. President Donald Trump declared new higher tariffs against China. As he announced on Truth Social, the U.S. has imposed a 125% levy on all Chinese imports, introducing the 90-day pause on the high duties the U.S. was going to impose on its 75 trade partners.