According to the economist Clemens Fuest is a Global economic crisis Because of that of US President Donald Trump imposed Tariff not to be ruled out.
The great danger is that protectionism will spread faster and faster, even in China and Europe, said the President of the Ifo Institute in Munich In an interview of the Süddeutsche Zeitung.
Uncertainty remains
“If everyone goes in the wrong direction, there can be a big crisis”, said Fuest to the newspaper. While Trump initially rushes back to most states and exposes parts of his additional tariffs for at least 90 days, he is all the more difficult against Beijing.
The United States is now demanding additional duties in the amount of 145 percent on imports ChinaBeijing wants to raise 125 percent on US goods. For Fuest, the matter is therefore “not off the table”, the escalation with China continues and the uncertainty remains.
The economist sees a special danger in the fact that the USA As the most important economic power in the world, yours Reputation As a reliable contractual partner destroy. “The interest rates in the United States are climbing that falls,” said Fuest.
“Alarm signal”
Two thirds of the worldwide stock market capitalization are on the American stock market, the dollar is the worldwide anchor currency. “If all of this tilts, it would have the incalculable consequences.” Fuest considers it possible that the sudden decay of the US state bonds The reason is from which Trump has now rowed back.
This can be seen that scope for action by politicians is limited, “among other things through the power of the financial markets, and thus through all of us,” said Fuest. “If governments behave completely erratic and destructively, then you remove the money and trust.”