Trade war reprieve: ‘Uncertainty’ created by Trump will ‘detrimentally’ affect US and world economy

In a stunning reversal, the president said on Wednesday he would temporarily lower the hefty tariffs he had just imposed on dozens of countries, though he also hiked duties for China and kept 25% tariffs levied on aluminium, steel and autos in place. The news sent global stocks soaring after an intense bout of volatility that wiped trillions of dollars off equity markets. As investors cling on to hope for negotiations to avert a full-blown global trade war, FRANCE 24’s Erin Ogunkeye welcomes Richard Portes, Professor of Economics at London Business School.
#USA #TradeWar #Economy

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15 comments

  2. Meanwhile tens of thousands of Trump voters became rich yesterday off you Europeans that panic sold your US stocks. Thanks for the money European media. 😎

  3. AMERICA IS NO-ONES FRIEND NOR ALLY – Under Trump / Musk, America is in complete social, political and global security free-fall. America is now morally and ethically bankrupt, broken and dysfunctional with an Administration who’s politics are based on ARROGANCE, IGNORANCE AND DISRESPECT. Red America is now the new global threat. Shameful and treacherous behaviour that WILL NOT BE FORGOTTEN. America and the American people have no idea how much they are now universally despised. Globally people are actively boycotting American goods and services.

  4. It’s not just delusional Donny’s rhetoric. The entire planet understands that the first time it might have been an error in judgement but to elect the dictator wannabe a second time takes a special kind of stupidity blended with evil. We don’t want to associate with Americans anymore. Their money might be green but their hearts are black. Avoid !

  6. EU leadership is an embarrassment for us. US still has a 10% tariff on us and US still has the 25% on cars and steel and the EU retaliate tariffs were for those and because he cut the 20% from liberation day in half they stoped the joke of retaliation they wanted to set in place for the tariffs against cars and steel?

    We need better leaders in the EU and not US-boot liking vassals

  7. Professor really easily saying that Trade is beneficial to both sides. This is absolutely not true. On the US side, sure it was beneficial to Walmart and Amazon and their shareholders and some Americans got to buy cheap goods in exchange for well paying and stable jobs, a poor exchange. On the Chinese side, it was beneficial to the Chinese people as well as their military and navy got stronger. China suddenly went from a small 1 trillion GDP economy to a 17 trillion GDP economy and the worlds largest navy from nothing. China is definitely the big winner from globalization and the big loser if it shuts down. The economist should know this.

  9. China they don't need to worry about the tarrifs because they need just to set warehouses in Mexico and Canada and Americans will buy from there … and some fentanyls in bonus

  11. Our guy is like the neurotic person in white lotus and the guy in suits.bery confused and anxious and regrettable of his own decision

  14. It's true that China is the biggest winner of globalization but it shows US worker is not productive enough. If you can't win a match, announcing non participation in competition match won't help either. No developed country can make everything within its geographical boundary. It will require import of large numbers of labour and still it will be cost ineffective . The biggest strength of America was it's openness. The best & the brightest minds of the world moved there and Lead the innovation. Even Elon would not be there. It's a trade off between cheap debt+growth+higher standards of living ( attained through $ serving as an international reserve currency) Vs certain industries jobs+expensive debt+reduced standards of living. You can not have it both ways. Balance of payments doesn't have only current account. There are Capital & Financial accounts also. Look at that side of the equation

  15. One thing is clear 400 billion in Chinese products with no where to go unless you people in the eu and UK buy them. Millions of Chinese workers will be out of work. That's a fact. China sells 440 billion to us the us sells just under 150 billion. I support the tariffs on china things will get worked with other countries I favor trade with allies. NOT CHINA. MUST DECOUPLE.

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