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Europe fears economic fallout with Trump’s potential return to the White House
The post Europe fears economic fallout with Trump’s potential return to the White House appeared on BitcoinEthereumNews.com. European central bankers are losing sleep over the possibility of Donald Trump returning to the White House. The fear is clear. Trump’s aggressive trade policies, especially his love for tariffs, could crash their already fragile economies. With the continent still reeling from inflation and slow growth, a second Trump administration could complicate things even further. Investors are on high alert, and analysts say Trump’s return could push the euro down to parity with the dollar. Europe just can’t afford another economic blow right now. European economies already struggling Trump has promised a 60% tariff on Chinese goods and up to 20% on everyone else. If he follows through, this would create the biggest trade disruption since the Smoot-Hawley Tariff Act that helped worsen the Great Depression in the 1930s. Such measures could hit Europe hard. The eurozone’s position is much weaker now compared to when Trump was last in office from 2017 to 2021. This time, Europe isn’t in a place to handle it. According to people in the know, some officials in Frankfurt, London, and Stockholm have been talking about the chaos another Trump term could bring. They’re especially nervous this week, as they gather in Washington for the International Monetary Fund (IMF) meetings. Europe is in a much worse situation than it was back in 2017 when Europe wasn’t dealing with wars in Ukraine or the Middle East. The eurozone had just posted its best annual growth in a decade, and the UK was having its strongest year since 2014. Compare that to today: growth is stalling in the UK, and Germany is heading for its second annual contraction in a row. French businesses and households are facing a brutal €60 billion ($65 billion) in spending cuts and tax hikes. Business surveys across Europe are grim, and the…
The post Europe fears economic fallout with Trump’s potential return to the White House appeared on BitcoinEthereumNews.com.
European central bankers are losing sleep over the possibility of Donald Trump returning to the White House. The fear is clear. Trump’s aggressive trade policies, especially his love for tariffs, could crash their already fragile economies. With the continent still reeling from inflation and slow growth, a second Trump administration could complicate things even further. Investors are on high alert, and analysts say Trump’s return could push the euro down to parity with the dollar. Europe just can’t afford another economic blow right now. European economies already struggling Trump has promised a 60% tariff on Chinese goods and up to 20% on everyone else. If he follows through, this would create the biggest trade disruption since the Smoot-Hawley Tariff Act that helped worsen the Great Depression in the 1930s. Such measures could hit Europe hard. The eurozone’s position is much weaker now compared to when Trump was last in office from 2017 to 2021. This time, Europe isn’t in a place to handle it. According to people in the know, some officials in Frankfurt, London, and Stockholm have been talking about the chaos another Trump term could bring. They’re especially nervous this week, as they gather in Washington for the International Monetary Fund (IMF) meetings. Europe is in a much worse situation than it was back in 2017 when Europe wasn’t dealing with wars in Ukraine or the Middle East. The eurozone had just posted its best annual growth in a decade, and the UK was having its strongest year since 2014. Compare that to today: growth is stalling in the UK, and Germany is heading for its second annual contraction in a row. French businesses and households are facing a brutal €60 billion ($65 billion) in spending cuts and tax hikes. Business surveys across Europe are grim, and the…
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