US President Donald Trump Saturday’s decision to determine import duties to Canada, Mexico and China may, according to experts, be a serious error assessment. American economic magazine Wall Street Journal describes the decision in their editorial recently “the stupidest trade war in history”.
Many experts believe that the next customs decision strikes directly in Europe. At the same time, they warn about Trump’s duties on the US economy.
Ing Bank’s US Chief Economist James Knightley says that import duties actually strike directly on American consumers and especially low -income households.
“This is a bad blow especially for working families, including those who voted Trump on the grounds that he would lower prices.”
Former International Currency Fund IMF Advisor, Current Atlantic Council Geoeconomics Center Senior Director Josh Lipsky describes Saturday’s decision as a broader one than anything Trump did in his first presidential term.
The one who sighs satisfied with relief is, according to Lipsky, China, for whom Trump ordered “only” ten percent import duties instead of Canada and Mexico’s 25 %. In the past, Trump threatened China with up to 60 % import duties.
Lipsky find in one’s instant comment two explanations. First of all, Trump estimates the increase in inflation in the United States and secondly in his politics that Mexico and Canada are much more dependent on the United States than the United States.
A prestigious geopolitical expert, Professor of Eurasia Group, a risk analysis company Ian Bremmer agrees. However, in his first comment, he warns that Donald Trump seems to be ready to take any risks.
“For months, he has threatened to make a stunning turn to protectionism. Now he does it and is aiming directly in the world’s largest trade relations. Fasten seat belts.”
Economic nobelist, an American economist Robert Shiller He is now warning Europe, which he anticipates is the next “Trump rage” destination.
Nobelist compares the Italian In an interview with La Repubblica magazine Trump already in the Italian fascist mictatrical Benito to Mussolin.
“The same exaggerated big ego and, above all, the same stubborn desire to war against all common sense. Fortunately, this time it is just a trade war, but it is still completely unreasonable, ”he comments.
Like James Knightley, Shiller predicts that import duties will eventually turn against Trump by hitting the US economy. He predicts that US inflation is accelerating, slowing down economic growth and increasing unemployment.
Advisor to the most famous economists in the world Mohamed el-erian Also warns of broader consequences in international trade and economy.
He writes in the Message Service X that the more imported duties, the stronger the incentive for other countries to reduce their financial and financial dependence from the United States. According to El-Erian, this accelerates the fragmentation of international economic order.
“In other words, trade armed for the trade promises immediate profits to the United States. But if it continues for a long time, it threatens to weaken the central position of the United States in the global economy and encourage other countries to look for alternative systems. ”
Finnish Doctor of Military Sciences, MP Jarno Limnéll (IOC) also warns of other Trump threats and highlights Greenland.
“Trump’s speeches have been made specifically as speeches. However, in Europe, including Greenland, it is worth considering the possibility that speeches become acts. At the same time, it must be remembered that Trump has a negotiation style that has tough speeches. Trump also wants to show his supporters, ”he comments on X.