A wide range of economists is ringing an alarm on the steep tariff of President Donald Trump on imports in the United States, provoking a trade war that experts say that many countries can tip many countries in a recession. Here are comments by some major economists:
‘Regenism failure’
For Thomas Pikati, “Trumpism is already a response to the failure of recurrence” Trumpism, the best-selling French writer of “Rajdhani in the twenty-first century”, the liberalization of President Ronald Reagan in the -1980s.
The left-wing economist told AFP, “Republican realizes that economic liberalism and globalization have not benefited the middle class because they said that they would do it.”
“So now they are using the rest of the world as a sacrifice of a sacrifice,” he said. “But it’s not working: Trump cocktail is just going to generate more inflation and more inequality.”
In response, Europe needs to define “its priorities and” energy and transport infrastructure, education, research and health “with a large -scale investment plan” for global recession “.
‘Malignant foolishness’
Nobel Economics Prize Lawret Paul Krugman said that the United States was an essentially founder of the modern trading system, who led the lower tariffs in the previous decades.
“Donald Trump burnt it all,” Krugman wrote on his popular substation blog, before 10 percent of tariffs on the President’s Aadhaar import came into effect on Saturday.
He said, “Trump is not really trying to meet the economic goals. All this should be seen as a dominance performance, the purpose of which people should shock and fear them.”
Crugman at one time accused the US administration of “fatal foolishness” when the world economy is on the fate line “.
“How can anyone be, whether they are businessmen or foreign governments, trust anything that comes out of a administration that behaves like this?”
‘Major problem’ for the poor
For Nasir Sini, a former Lebanese former Economy Minister, a major problem is at least developed and emerging countries with “a major problem” seismic shock for “global trade scenario”.
“Countries like Egypt, Lebanon or Jordan are going to face disruption in terms of their trade relations” as well as the possibility of cutting foreign investments.
He said, “When you have this type of tariff installed, high levels of tariffs without economic base, what you are going to do severely interrupted the supply chain,” he said.
“I think we have ended with the era of globalization and liberalization”, which will lead countries in the Middle East, for example, to strengthen the relationship with Asian partners.
‘Weapon of weak’
Kako Nubukpo, an economist and former government minister in Togo, warned that Trump’s tariffs would already suffer from political difficulties to African countries.
He said, “Those who are behind globalization are more and more visible. And so we have seen an increase in Eliberal regime, whether it is in Europe, Africa or America,” he said.
But “protectionism is a weapon of the weak, and I think Trump has felt that in the competition with China, the United States is now weak.”
In response, “African countries should promote their own national and regional value chains as buffers against Trump’s tariff”.
“This is a type of neo-magentalism, which believes that international trade is a zero-zero game and fits perfectly with a combative world vision,” Nubukpo said.
(This story is not edited by NDTV employees and auto-generated from a syndicated feed.)
