There are angry reactions from world leaders as the United States announces definitions on all imports.
US President Donald Trump described as “liberation day”, but world leaders say his new tour of definitions is likely to lead to a global trade war.
The White House announced that the customs tariff rates will differ depending on the country, but almost all countries will be affected.
This step led to anger in China, panic in Europe and confusion all over the world.
Trump says the definitions are a recovery – a way to liberate the United States from relying on foreign goods and promoting manufacturing at home.
But at the present time, they also feed fears of recession and make global markets tense.
How will it run the global economy?
Will the commercial partners be drifted away from America and build alliances elsewhere?
Introduction: James Pies
Guests:
Stephen Okon – founder and CEO of APAC consultants
Philippe Legrain – A senior political expert and a visiting visitor at the European Institute of London for Economics
William Lee – Senior Economists at the Milkin Institute
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