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S&P: Econ Growth Outlook Limited After US Adopts New Tariff Measures
Recommend 14 Positive 3 Negative 16 |
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US President Donald Trump has followed through on imposing 25% tariffs on almost all goods imports from Canada (excluding oil and gas at 10%) and Mexico and an additional 10% tariff on imports from China, S&P Global Ratings said. The economic effects of these tariffs are negative and asymmetric, hitting Canada and Mexico hardest, S&P added. The impact on the US economy - based on own country percentage terms - is much smaller than for Canada and Mexico, S&P Global Chief Economist Paul Gruenwald said. The economic effects for China compared with S&P's previous baseline are minimal, Gruenwald added. However, US tariffs are the key reason why S&P expects China's GDP growth to slow to around 4% in 2025/ 2026. AAStocks Financial News |
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