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UK University Report Estimates US$1.4T Loss from Global Retaliatory Tariffs
Recommend 3 Positive 4 Negative 4 2025/04/02 00:17 GMT
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A report by Aston University in the UK estimates a global loss of US$1.4 trillion if the world implements comprehensive retaliatory tariffs in response to US President Donald Trump's tariff policies. The study presents various scenarios. For instance, the US tariffs, if implemented, could lead to a 2.7% increase in US prices and a 0.9% drop in per capita real GDP, while the economies of Canada and Mexico could fall by 3.2% and 5% respectively. If Canada, Mexico, and China retaliate against the US, the US economic decline could deepen to 1.1%, while the economies of Canada and Mexico could slip by 5.1% and 7.1%.
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