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Fitch warns President Trump’s trade fight could cost the world $2 trillion in global trade
Fitch Ratings on Tuesday warned that rising tensions between the U.S. and its trading partners could lead to new measures with a greater impact on global growth with as much as $2 trillion in global trade in jeopardy if President Donald Trump remains on a trade warpath. “The U.S. investigation into auto tariffs, possible additional U.S. tariffs on Chinese imports, and the likely reactions of other countries and blocs, point to a potential serious escalation, albeit with an impact that falls short of across-the-board tariffs imposed on all major trade flows,” Brian Coulton, chief economist at Fitch, said in a ... (full story)
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