Experts assessed the impact on the global economy of Trump's imposition of trade duties

The volume of imports to the United States from countries for which US President Donald Trump is imposing duties may decrease by at least 10-15% this year, experts interviewed by Izvestia estimated.

Hit by tariff: inflation in the US will double due to Trump's new duties

Will they lead to a slowdown in the American economy and how will they affect Russia?

On April 2, the American leader announced large-scale measures: base tariffs of 10% are introduced for all products supplied to the United States. For the EU, this figure has been raised to 20%, and for China — to 34% altogether. In his speech, the president called April 2 the day when Americans will become rich again.

Meanwhile, the leaders of other major economies in Europe and Asia said before Trump's speech that they were ready to respond to the US measures. This could mean a global trade war.

The tariffs presented on the main trading partners of the United States — China (34%) and the European Union (20%) — turned out to be comparable and even more in relation to what the Western media expected. In this case, the decrease in imports in real terms may amount to 10-15% per year, predicted Yuri Ichkitidze, analyst at Freedom Finance Global.

Inflation will accelerate in all countries against which duties are imposed, but in the EU it will also be more pronounced due to rising defense spending, independent expert Andrei Barkhota suggested.

However, according to experts, the direct impact of the increase in US import tariffs on Russia will be minimal, since after 2022 we have an extremely small volume of bilateral trade with America. Perhaps the indirect impact may be related to the deterioration of conditions in the global economy and the weaker growth of the Chinese economy.

"In this case, we can expect a reduction in global demand for raw materials — metals, oil, petroleum products, which may negatively affect Russian exports," suggested Olga Belenkaya from Finam.

Read more in the exclusive Izvestia article:

Trade Warrior: How new US duties will affect the global economy