World Economic Order Rocked.
What US President Donald Trump called “Liberation Day” would better be called “Inflation Day,” said Bernd Lange, chair of the European Parliament’s International Trade Committee.
The tariffs unveiled by Trump “will really harm people on the ground,” Lange said Thursday at a news conference in Strasbourg, France.
Lange called Trump’s tariff announcement a “mess” that is “unfair” to producers in the United States, Europe and the Global South.
“President Trump called it ‘Liberation Day.’ I will call it, ‘Inflation Day,’ because it’s totally clear that these tariffs will increase prices in the United States” and around the globe, Lange said. By Antoinette Radford, CNN
International trade is the backbone of the World economy and it has been turned upside down with a bevy of new tariffs introduced by the current Administration. The extend of the new tariffs are unprecedented in their scale and scope. The World is shocked and not able to fully comprehend the extent of the tariffs and what it will mean for the World economy and international relations going forward.
