US President Donald Trump may have announced a delay in some of his tariff plans, but the first signs of an economically damaging slowdown in global trade are already emerging as companies around the world hit their own pause button on orders and he continues to escalate his trade war with China.
Analysts noted that even after the temporary reprieve, the average US tariff rate is still rising to 24%, up almost 22 percentage points since Trump started his second term.
That means the hit to economic growth and inflation remains similar in "a shock that will play out over two to three years". Amazon began canceling orders from China and other parts of Asia. Haas Automation, which bills itself as the largest machine tool builder in the western world, said it was reducing production. bloomberg
Analysts noted that even after the temporary reprieve, the average US tariff rate is still rising to 24%, up almost 22 percentage points since Trump started his second term.
That means the hit to economic growth and inflation remains similar in "a shock that will play out over two to three years". Amazon began canceling orders from China and other parts of Asia. Haas Automation, which bills itself as the largest machine tool builder in the western world, said it was reducing production. bloomberg
You may also like
'Laton ke bhoot': Yogi Adityanath lambasts Mamata Banerjee's 'license' over Murshidabad violence
Inside David Oyelowo's life from devout faith to surprise 'royal family' connection
Shreyas Iyer named ICC Men's Player of the Month for March
Dance Event At Hathras Primary School Sparks Inquiry Over 'Offensive' Performance
Helen Flanagan stuns in striking Karen Millen dress at this year's Grand National race
