Trump’s Tariffs Strategy: The Rich, The Labourers, The Consumers And The World Poorest Nations (5)
By Abbati Bako
On Trump’s campaign tariffs Experts in the Chatham House London (David Lubin) has said that “the global stocks that started with 2.3% years ago now attract 25% of the world business tractions”. Stocks Exchange is the ape center of business assessment of every nation in the world.
Unfortunately today’s activities in the US stocks exchange was 9.5% down and the Asian Stocks Exchanged over 3% down. The world lost about 9.5 Trillions Dollars in the past three days. This means that the world is moving into economic recession, meltdown and precarit
Trump’s tariffs strategy has sent doubt and shockwaves through the global economy, impacting 185 countries and igniting inflationary pressures worldwide. This protectionist approach, championed by President Trump, has yielded mixed results, affecting various segments of society differently and possibility of the death or crisis of globalization policy
*The Rich Northern Hemisphere Nation
The wealthy nations of Europe, Canada, and America have not been immune to the effects of Trump’s tariffs. The strategy has led to increased costs for imports, potentially dampening economic growth and spurring retaliatory measures from affected countrie
*Trade Relations
Trump’s tariffs have strained trade relationships with key partners, including China, Japan, South Korea, Canada, Mexico, Brazil and the European Unio
*Economic Impact
Higher tariffs have resulted in increased costs for American consumers and businesses, potentially slowing economic growth and development in the country
*The Labourers: Southern Hemisphere Nations of the Wor
Workers in Asia, Latin America, and the Middle East have experienced both positive and negative effects from Trump’s tariffs strategy
*Job Creatio
Tariffs on steel and aluminum have created jobs in these industries, with approximately 1,800 new positions at Whirlpool, Samsung, and LG factories in the U
*Job Losses
Conversely, workers in sectors reliant on imported inputs or facing retaliatory tariffs have suffered job losse
*The Consumers
Global impact: the global consumer has been hit hard by Trump’s tariffs, with higher prices and reduced purchasing power. Certainly, the world history of the economy will change as a result of Donald Trump’s tariffs strategy
*Price Increases
Tariffs have led to higher prices for goods, affecting American households and consumers worldwid
*Reduced Spending Powe
The average American household may see a reduction in spending power of up to $3,900 annually due to tariffs
*The Poorest Nations of Africa and Beyond
The poorest nations, particularly in Africa, are vulnerable to the effects of Trump’s tariffs. With less than 3% of the global economy, Africa may suffer most than any other Continental of the world
– *Economic Vulnerability
These countries often rely heavily on imports and exports, making them susceptible to fluctuations in global trad
*Limited Economic Diversification
The poorest nations may struggle to adapt to changing trade dynamics, exacerbating economic challenge
In conclusion, Trump’s tariffs strategy has far-reaching implications for the global economy, affecting various segments of society differently. As the world grapples with the consequences of this protectionist approach, one thing is clear: the effects of Trump’s tariffs will be felt for years to come. Hence, Nigerian leadership must make consultations with both external and external experts in the field of economy
To be continued insha’Allah
Dr. Abbati Bako, political economy analyst and Treasurer Kano Chamber of Commerce abbatibako@gmail.com . . s.: e.: . : . r:e.: . : s.: S.n:. ld. : n.: s.s:. y.. kost and Treasurer Kano Chamber of Commerce abbatibako@gmail.com
