How new 12.5 per cent global import taxes are affecting the economy and markets
The article criticizes Donald Trump's implementation of 12.5 per cent tariffs on 60 nations, arguing that these trade policies are causing global economic instability and inflation. It highlights the negative impact on international markets and suggests that the tariffs are a retaliatory measure following legal setbacks.
Why it matters
These protectionist trade policies threaten to disrupt global supply chains and potentially trigger a worldwide recession.
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Share A A A The global economy is not living rent-free in the mind of Donald Trump.
It is costing the world a fortune, and Trump is finding new ways to increase the price that is being borne not only by US consumers but everyone from Australian manufacturers to Indian rice farmers.
Donald Trump has caused Americans, and the world, a tremendous amount of mental anguish. Illustration: Monique Westermann That he slapped 12.5 per cent tariffs on 60 nations , which account for about 99 per cent of US imports, at the same time as his efforts to prosecute a war in the Middle East drove oil prices beyond $US100 ($140) a barrel speaks to the unhinged approach of Trump to his economy and to economic policy in general.
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