New Zealand PM warns trade wars threaten global economy

New Zealand Prime Minister Christopher Luxon warned that trade wars, particularly due to U.S. tariffs under President Trump, will create significant challenges for the global economy. He emphasized the need for stronger economic ties among Indo-Pacific nations. Luxon noted a shift from globalization to hypernationalism, highlighting the risks of protectionism and trade wars. He stated that previous assumptions about global trade stability can no longer be relied upon. Despite these challenges, Luxon praised Indo-Pacific trade alliances as essential for managing future economic instability. He called for deeper integration and cooperation among nations in the region.