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Shkruar nga Pamfleti
Trump's focus on tariffs is stoking fears of a U.S. recession and causing turmoil in the stock market. Goldman Sachs analysts raised the probability of a 12-month recession from 20% to 35%.
The eyes of the international community are on the White House as they wait for Donald Trump to announce reciprocal tariffs on nations that impose tariffs on American products, calling his move "Liberation Day."
The US president said on Monday he would be "very polite" to trading partners when he unveiled further tariffs.
Trump insists that reciprocal action is needed because the world's largest economy is "hit by every country in the world."
"You'll see in two days, which is probably tomorrow night or maybe Wednesday," he said, adding we'll be very good, relatively, we'll be very kind.
Trump's policies are causing concern even within his own camp. Several Republican senators have spoken out against Trump's tariffs on Canada and are considering signing on to support a resolution blocking them, CNN reported.
Senator Susan Collins warned that tariffs on Canada would be particularly harmful to Maine and that she intended to vote in favor of a resolution aimed at blocking tariffs on Canadian products.
Trump's focus on tariffs is stoking fears of a U.S. recession and causing turmoil in the stock market. Goldman Sachs analysts raised the probability of a 12-month recession from 20% to 35%.
China and Canada have imposed retaliatory tariffs on American products, while the EU unveiled its own measures to begin in mid-April. More countermeasures could follow after Trump announces new tariffs.
Economists expect tariffs could hit 15% of partners that have persistent trade imbalances with the US, a group that US Treasury Secretary Scott Besant has called the “Dirty 15.” The US has some of the largest deficits in goods with China, the EU, Mexico, Vietnam, Taiwan, Japan, South Korea, Canada and India.
European Central Bank President Christine Lagarde said on Monday that Europe must move towards economic independence, telling France Inter radio that Europe is facing an "existential moment."
Europeans want revenge against US tariffs
Meanwhile, an interesting poll shows that the vast majority of Western Europeans support retaliatory tariffs against the US if Donald Trump introduces sweeping import tariffs on major trading partners.
A YouGov poll conducted in Denmark, France, Germany, Italy, Spain, Sweden and the UK found that if the US tariffs continue, a large majority – from 79% of respondents in Denmark to 56% in Italy – favour retaliation against US imports.
In both Germany, where automakers such as Porsche, BMW and Mercedes are facing a significant hit to their profits, and France, where U.S. wine and spirits sales total almost four billion euros a year, 68% of respondents supported retaliation. Respondents in all seven countries favored a confrontation despite the damage they expected U.S. tariffs to cause to their national economies, with 75% of Germans saying they expected an impact “a lot” or “quite a lot.”
This assessment was shared by 71% of respondents in Spain, 70% in France and Italy, 62% in Sweden, 60% in the United Kingdom and half of Danes surveyed in the survey, which was conducted in the second and third weeks of March. /Adapted from Pamphlet/
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