Fri, 23 May 2025

Fri, 23 May 2025 Faisal Islam: Trump's tariff plans could spark global economic shock

The move threatens significant volatility in the coming weeks, ahead of a crucial G7 summit in Canada next month.
US President Donald Trump has reignited tensions with the European Union by threatening a 50% tariff on all EU goods starting June 1st, sparking fears of a renewed global trade war. This move comes after a period of relative calm and has left many countries scrambling to respond. The threat is seen as an attempt by the US administration to "light a fire" under stalled trade talks with other nations, including key allies in the EU. However, some experts believe the US is bluffing and will eventually back down. The European Union has urged the US not to let threats dictate trade negotiations. Economists are warning of a potential global trade war, which could have significant consequences for economies worldwide.
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