In a trade war, nobody survives.
As the United States trade war with the rest of the world intensifies, the global economy, which is already struggling, could erase 0.6 percent from gross domestic product in two years, says a new report.
According to Bloomberg Economics’ estimates, the U.S. tariffs imposed against China and Beijing’s retaliation could significantly impact the sluggish international economy to the tune of $600 billion by 2021.
Here is a chart from the the business news website:
American soybean farmers are collapsing, smartphones are getting more expensive, and consumers are getting taxes.
Who is winning this thing again?
Like this article? Get ECN delivered to your inbox daily. Subscribe here.
Leave a Comment