Trump unleashes trade war: is there a threat of global economic collapse?

Trump unleashes trade war: is there a threat of global economic collapse?

Donald Trump is heating up the economic climate! With the recent imposition of 25% tariffs on powerful trading giants Mexico, Canada and China, the US President is drawing the ire of the international community. While the USA has negotiated a one-month deadline for negotiations with Canada and Mexico, the countries are not putting up with this provocation and are countering with their own measures. The BRICS countries in particular, led by an angry Chinese economic power, are seeing red and are planning to unload their frustration on the World Trade Organization!

Especially now, when China accounts for almost 15% of US imports and bilateral trade exceeds the impressive $650 billion mark, Trump's tariffs are no small thing. The journey to inflation could happen faster than you can say “tariff war”! Memories of the 2018 trade shock are being brought back, when the Western economy suffered over $316 billion in costs. And the BRICS alliance? He is strengthening his position with far-reaching influence and now controls more than 45% of global oil production and 35% of global GDP.

The outlook is anything but rosy! The International Trade Court is likely to soon be overflowing with complaints as diplomacy around the world is in full swing. Well, that's a nice mess - things are getting tight on the diplomatic stage! There are more details on this tense topic at watcher.guru.