Analysis indicates America faces major challenges in Trump's tariff war
(MENAFN) A report indicates that the United States is likely to suffer the most from President Donald Trump's tariff war, even as the Australian dollar and stock markets face downturns.
Just three months ago, at his inauguration, President Trump declared that America was on the brink of a "golden age." "His much-heralded golden age, however, is about to tip the U.S. into recession," the report noted on Tuesday.
The article criticized the Trump administration's tactics, stating, "The ham-fisted, amateur-hour antics of the Trump administration have sent the globe down a dangerous path."
It also highlighted the vulnerability of the global trading system, asserting, "It took almost 80 years to build the global trading network Trump thinks is 'ripping America off.' Can it be torn down in six weeks? Not without serious consequences which may include the ultimate demise of the American empire."
While the U.S. dollar remains the world's reserve currency, the analysis pointed out that "Trump has damaged his country's standing and its reputation."
Despite its status as the world's largest economy and a dominant military force, a recent analysis highlights that the United States is grappling with significant issues. The report attributes these challenges to over fifty years of trickle-down economics and laissez-faire policies, which have resulted in severe wealth and income disparities, deteriorating living conditions, and an increasing mortality rate. "It may be the world's largest economy, the global military superpower," the analysis stated, emphasizing the consequences of these longstanding economic strategies.
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