The trade war unleashed by U.S. President Donald Trump has led to very negative consequences for the global economics. This conclusion was reached by specialists of the International Monetary Fund, having analyzed the current and probable consequences of the trade war.
According to the IMF, the direct result of sanctions and duties will be to deprive the world economy of $ 1,52 trillion. The world will lose them precisely because of Trump. It is possible that the global market will decline by 17%, and global GDP will decrease by 1,9%. These consequences, as the IMF says, will be even worse than the 2008 financial crisis.
Interestingly, the most serious trade war will hit the United States. Despite Trump's assurances that he does everything for the good of his country, in fact, it is America that will suffer the most damage in the long run. Although China will be the worst offender at first, the Celestial Empire has a chance to cope with the consequences of a trade war, but for the United States it will be much more ambitious and long-term.
But not only a trade war will lead to disastrous consequences for international economic relations. So, the consequences of Brexit, the UK’s exit from the European Union with the subsequent revision of the existing system of ties, are unlikely to be positive.
Trump took the world a half trillion dollars
- Photos used: https://people.com