Trump's tariff threat sets stage for bitter global trade war
Analysis
The statement is supported by multiple references indicating that Trump's proposed tariffs on Canada, Mexico, and China could indeed escalate into a global trade war. Articles highlight the potential for retaliation, market turmoil, and significant economic impacts stemming from these tariff threats. The consensus among experts and reports suggests that such actions could lead to increased tensions in international trade relations, reinforcing the idea that Trump's tariff threats set the stage for a bitter global trade war.
Sources
The study's authors noted that these were conservative measures of the losses from the tariffs, because they did not take account of the tariffs' effects in reducing the variety of products available to consumers, or the tariff-related costs attributable to policy uncertainty or the fixed costs ...
The Trump administration imposed nearly $80 billion worth of new taxes on Americans by levying tariffs on thousands of products in 2018 and 2019, amounting to one of the largest tax increases in decades.
Part of the explanation, according to economists, is that Trump’s tariffs increased the international relative value of the US dollar (by automatically reducing demand for foreign currencies in international trade) and that this made the products of US exporters less competitive globally.
Trump's call to aim tariffs at America's three biggest trade partners prompted some turmoil in financial markets overnight.
Trump ups the ante on tariffs, vowing massive taxes on goods from Mexico, Canada and China on Day 1
Come January 20, the day Trump is set to be inaugurated, he pledges he will slap a new, 25%, across-the-board tariff on all goods the US imports from its closest neighbors.
Donald Trump sent shockwaves around the globe on Monday night by threatening huge tariffs on China, Canada and Mexico on his first day back in the White House.
Mr Trump’s proposed ramping up of tariffs, framed as measures to correct trade imbalances and protect industries in the United States, have the potential to significantly reshape international trade relations and supply chains, with notable consequences for the European Union and its ...
Trump pledged to put a 60 percent tariff on goods from China and a tax of at least 10 percent on all other imports. Such a move could ignite a global trade war.
Former President Donald Trump has proposed a 60% tariff on goods from China and a 20% tariff on everything else the United States imports.
The global shipping industry is worried fresh trade wars under Trump could see a new spike in container prices
Trump intends to hit Canada, Mexico and China with tariffs, which experts say will risk retaliation and a damaging economic war ... Donald Trump’s threat to impose steep tariffs on goods imported into the US has set the stage for a bitter global trade war
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