In a surprising turn of events, U.S. President Donald Trump's sweeping tariff move has sparked international concern. Experts warn that these tariffs could lead to higher inflation, job losses, and a slowdown in economic growth around the world. 😮
South Africa's economics professor Peter Baur from the University of Johannesburg stressed that industries like steel, aluminum, and motor car exports are set to feel the pinch. He noted that the U.S. public might face rising prices as the U.S. dollar shows a depreciation trend against the euro, impacting everyday life.
Meanwhile, Venezuelan oil specialist Daniel Paez explained that the imposition of reciprocal tariffs and secondary tariffs – including a 25% charge on oil and natural gas imports from Venezuela – could disrupt the international oil trade. Paez commented, "They are most likely trying to build an international strategy of fear," highlighting potential setbacks for global energy markets.
With trade tensions on the rise, many observers believe that these measures might even backfire on the U.S., harming its own economic interests. It feels like a dramatic plot twist straight out of your favorite blockbuster! 🍿 Stay tuned as markets react to these unfolding events.
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Experts on Trump's tariff policy: U.S. is stoking international panic
cgtn.com
