Trump’s Tariffs: A Perfect Storm of Confusion, Uncertainty, and Global Economic Unpredictability (4)
By Abbati Bako,Alumni-Ke
UK’s European Universit
The global economy is teetering on the brink of chaos, courtesy of US President Trump’s tariffs strategy. This approach has unleashed a maelstrom of confusion, uncertainty, and economic unpredictability, leaving the world wondering what’s next. The tariffs imposed by President Trump, touted as a means to bolster the American economy, have instead precipitated a downward spiral of economic instabilit
*The Ripple Effects of Tariff
The far-reaching consequences of these tariffs are multifaceted and alarming
*Reduced Economic Output
The tariffs are expected to shrink US GDP, with estimates suggesting a decline of up to 0.7% or even more before the year end
*Loss of Jobs
The tariffs will result in a staggering loss of jobs, with estimates suggesting over 600,000 full-time equivalent jobs will be lost not in the US and in other countries
*Increased Tax Burden
The tariffs will increase tax revenue for the federal government, but this will come at the cost of reduced economic output and higher taxes for American households
*Retaliation and Escalation
The tariffs have already sparked retaliation from countries like China, Canada, and the European Union, with imposed and threatened retaliatory tariffs affecting billions of dollars’ worth of US exports
*The Unpredictable Nature of Trump’s Tariff
The unpredictable nature of Trump’s tariffs strategy has created an environment of uncertainty, making it challenging for businesses and investors to make informed decisions. The tariffs have been imposed and revoked seemingly at whim, leaving the global economy on edge. But about 50 countries seek negotiations with President Donald Trump. Hence, it seems that his decision is non negotiable
*Conclusio
In conclusion, Trump’s tariffs strategy has unleashed a perfect storm of confusion, uncertainty, and economic unpredictability. The global economy is paying the price for this approach, and it remains to be seen how long this economic instability will persist. One thing is certain, however: the world will be watching with bated breath as the situation continues to unfold
To be continued insha’All
Abbati Bako Political strategy and communications consultant and analyst in international politics IPRC, Nigeria and Treasurer Kano Chamber of Commerce ah. n:. s:. : . : . : . : . s:y.yntnd Treasurer Kano Chamber of Commerce
