Experts warn of potential trade wars and inflation with Trump's return to the White House
nzherald.co.nz — November 6, 2024, 10:01 PM UTC
Donald Trump's return to the White House may lead to new trade wars and increased inflation, according to experts. His proposed tariffs include a 60% import tax on Chinese goods and a 10% tax on other imports.
A study estimates that the European Union could face a $533 billion impact by 2029, while the U.S. and China could see impacts of $749 billion and $827 billion, respectively.
Emerging markets like India, Indonesia, and Brazil are expected to experience a smaller economic impact from these potential trade policies.
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