The World Sweeping impacts of new Trump tariffs on global economy
Aug 1, 2025
Nicolas Poitier, an economist at Bruegel, discusses the sweeping impact of new tariffs imposed by the Trump administration. He breaks down how these tariffs create uncertainty for global trade and affect various industries worldwide. Poitier highlights the ripple effects on geopolitical dynamics and the responses from affected countries. In addition, he touches upon the surprising links between these economic policies and broader global concerns, including climate change's influence on natural disasters in regions like India.
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Uncertain Impact of Trump Tariffs
- Trump's new tariffs create significant uncertainty in U.S. and global economies.
- Many concessions raise costs for American consumers and risk future trade conflicts.
Tariffs Disrupt Supply Chains
- Tariffs severely disrupt complex supply chains, especially in pharmaceuticals.
- Rebuilding domestic production takes years, potentially raising costs globally.
Geopolitical Risks of Tariffs
- U.S. tariffs on allies strain geopolitical relationships.
- These actions undermine trust in U.S. security commitments and aid China's influence in Asia.
