
Trump's Global Tariff Offensive: Implications for World Economic Growth
Former President Trump has announced sweeping tariffs on global trading partners, ranging from 20% on European goods to 54% on Chinese imports. Notable in its absence from the tariff list is Russia, despite other sanctioned countries like Venezuela and Iran facing tariffs. Economists warn these measures could significantly decelerate global economic growth through supply chain disruptions, inflation, and inevitable retaliatory measures from affected countries. The move represents a challenge to post-WWII trade liberalization principles and may accelerate the formation of competing economic blocs, potentially reshaping the global economic order.