Guess who’ll be footing the bill as Trump and China lead tariffs war?
Ultimately, global citizens will foot the bill for global tariffs. And global governments will fill their balance sheets with the additional income earned from this taxing scheme. Perhaps there is never going to be an end to the tariff wars, and most certainly this will be the start of the next financial crisis in some form or other (“Trump’s trade war, oil, US dollar: why a recession may be in the offing”, July 9).
In 2008, it was the subprime mortgage crisis in the United States that spurred a full-blown global market meltdown; in 2018, it certainly looks like global trade wars will trigger the next global economic crisis for all of America’s trade partners. China is just the first step, every country will bear the brunt of trade with Donald Trump.
Market punters now have a valid reason to continue to hedge against the outcome of global tariffs. Thank you global leaders, for giving us another reason to sell our stocks. With trade wars, countries will be at stake, not just companies any more.
Rishi Teckchandani, Mid-Levels