Economists of the Dominican Republic described the United States' sweeping new reciprocal tariffs on global trading partners as costly and detrimental, including a 10 percent tariff on imports from the Dominican Republic.
Amid growing international concern, U.S. President Donald Trump on Wednesday signed an executive order introducing a 10-percent "minimum baseline tariff" on all imports, with higher rates for selected nations.
The Dominican Republic is one of the countries affected by the tariff increases. However, the Caribbean island country is part of a free trade agreement signed in 2004 with the United States and five Central American countries.
President of the Dominican Republic Luis Abinader has stated that he hopes the free trade agreement, which aims to eliminate tariff barriers, will be respected.
In the opinion of economists of the Dominican Republic, the imposition of 10 percent tariffs violates the free trade agreement.
"I would rather think it's an injustice, taking into account what will happen. Next week, Dominican products will enter the U.S., paying 10 percent, but U.S. products will enter the DR, paying basically zero," said Henri Hebrard, an economist.
Trump is shooting himself in the foot with this escalating tariff policy, said Eduardo Klinger, another economist.
"This is a self-inflicted blow for Trump. The American economy is going to suffer; it is already suffering. The stock markets have plummeted, and the customs tariffs that business owners are going to pay will be passed on to the price of products. Therefore, there will be an increase in the price of consumer goods," he said.
This negative impact on the world economy, including the Dominican economy, is gaining strength, representatives of the Dominican business sector said.
"It's a complex process. No one knows if the United States will succeed with these measures. Everyone there will have to figure out how to be more of a winner than a loser. But when these profound processes are involved, there are winners and losers," Hebrard said.
"Problems should be resolved by negotiating, not by threatening or provoking a war that will be very costly for the entire world. The Dominican Republic exports mainly agricultural products and goods from the free trade zone to the United States. However, historically, imports from that North American country are higher, leading to a significant trade deficit for the island," said Klinger.
Dominican economists describe U.S. tariffs as costly, detrimental
Dominican economists describe U.S. tariffs as costly, detrimental
Two geological wonders from western China have been designated UNESCO Global Geoparks, the National Forestry and Grassland Administration announced on Friday.
With these additions, China now boasts 49 UNESCO-recognized geoparks, more than any other country in the world.
The two geoparks, one named Kanbula in northwest China's Qinghai Province, a high-altitude marvel, and the other a prehistoric "dinosaur kingdom" named Yunyang in southwest China's Chongqing Municipality, exemplify the country's commitment to harmonizing geological conservation with cultural and ecological sustainability.
Nestled on the northeastern edge of the Qinghai-Tibet Plateau, the Kanbula National Geopark spans roughly 3,149 square kilometers with striking fiery-red Danxia landforms, towering jagged peaks, hidden caves, and emerald lakes. Beyond its visual splendor, the park's true value lies beneath the surface, serving as a premier location for geoscientific research and public science education. Culturally, Kanbula is the heartland of Tibetan regong arts and Huangnan Tibetan opera, which are UNESCO-listed intangible cultural heritages. It is rare in the world that integrates high-precision geoscience research, multi-cultural experience, and plateau ecological preservation.
Local officials say the UNESCO status will boost eco-tourism while maintaining ecological balance.
"The successful designation of Kanbula as a UNESCO Global Geopark will enable full utilization of its role as an international platform, showcase, and bridge, foster domestic and international exchanges/cooperation, boost local tourism-driven economic growth, and advance ecological civilization development through achievement demonstration," said Tashi Tsering, director of Kanbula Scenic Area Management Committee.
In stark contrast to Kanbula's highland grandeur, Yunyang Geopark unveils a prehistoric saga. Yunyang in Chongqing is located in the hinterlands of the Three Gorges reservoir area -- the world's largest dam -- and covers an area of about 112,400 hectares.
It has well-protected dinosaur fossils, karst landforms, and rare animal species, and the historical relics and cultures of the Tu ethnic group are also well-preserved.
The 2014 discovery of dinosaur fossils by a local youth initiated years of excavation that uncovered the world's largest Jurassic fossil wall, measuring 150 meters in length and 6 to 10 meters in height.
The fossils found here are of global scientific importance, as they contribute valuable insights into the evolutionary history of dinosaurs during the Middle Jurassic period, particularly in its early phase.
"Seizing this opportunity of Yunyang's designation as a UNESCO Global Park, we will plan a series of campaigns through an omnichannel, multi-layered promotional network combined with holistic cultural and tourism marketing," said Wu Xuemei, deputy director of Yunyang Cultural and Tourism Commission.
UNESCO defines Global Geoparks as "single, unified geographical areas where sites and landscapes of international geological significance are managed with a holistic concept of protection, education, and sustainable development." These geoparks also involve sustainable coexistence of environmental conservation and local communities' lives.
Back in 2015, UNESCO unveiled the International Geoscience and Geoparks Programme to protect the world's geological heritages and natural landscapes. As of July, UNESCO listed 213 sites in 48 countries as Global Geoparks, and the number has increased to 229 sites in 50 countries so far this year.
Two Chinese parks added to UNESCO Global Geoparks list
