Given Germany’s shrinking economy and serious public-debt problems in both Italy and France, Donald Trump’s proposed import tariffs risk triggering a Europe-wide recession and another eurozone debt crisis. Trump’s “America First” trade agenda would soon blow back on the United States – not least on his beloved stock market.
WASHINGTON, DC – At the first cabinet meeting of his second term, US President Donald Trump declared his intention to impose a sweeping 25% tariff on all imports from the European Union. But before opening a European front in his trade war, Trump might want to consider the continent’s economic malaise: the German economy has been experiencing a prolonged downturn, while Italy and France are struggling with serious public-debt problems. Maybe then Trump will grasp that his tariff actions – part of his “America First” agenda – risk triggering a European-wide recession and another eurozone debt crisis.
WASHINGTON, DC – At the first cabinet meeting of his second term, US President Donald Trump declared his intention to impose a sweeping 25% tariff on all imports from the European Union. But before opening a European front in his trade war, Trump might want to consider the continent’s economic malaise: the German economy has been experiencing a prolonged downturn, while Italy and France are struggling with serious public-debt problems. Maybe then Trump will grasp that his tariff actions – part of his “America First” agenda – risk triggering a European-wide recession and another eurozone debt crisis.