Trump's tariffs are based on the US trade deficit with each country.—A financial crisis is possible
Trump's tariffs are based on the US trade deficit with each country.—A financial crisis is possible
- April 3, 2025
- Stergios Skaperdas, economics, ERT News (Greece), Apr. 3, 2025
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The new tariffs announced by Donald Trump are causing turmoil in the global economy, with Europe waking up today to face 20% tariffs on its products. "The impact is not just on Europe, but on the entire world," emphasized Stergios Skaperdas, Professor of Economics at the University of California, Irvine, in an interview with ERT News. He pointed out that "the way they are calculated by the U.S. government is not based on existing tariff burdens, but the US trade deficit with each country."
For the full story, please visit https://www.ertnews.gr/roi-idiseon/st-skaperdas-kath-oikonomikon-oi-dasmoi-tramp-vasizontai-sto-emporiko-elleimma-tis-kathe-xoras-me-tis-ipa-pithani-mia-xrimatopistotiki-krisi/ (note: this article appears in Greek).
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