Experts predict global recession due to Trump's duties

A full-scale trade war in the world will lead to a global recession, experts polled by Izvestia believe. The United States itself will be the first to be hit after the imposed duties. The duties will lead to an increase in the average import tariff, which is likely to cause a spike in inflation and subsequent recession in the United States, expects Freedom Finance Global analyst Georgy Timoshin.

A dangerous dilemma: what will Europe and Asia do against the US tariffs

The EU is belligerent, and ASEAN is seeking concessions.

Due to the introduction of duties, trade turnover between countries will fall, which will give a new impetus to recession in most countries, agrees Tatyana Skryl, associate professor of economic theory at the Plekhanov Russian Economic University. If U.S. President Donald Trump does not change his policy, the risks of a slowdown in the global economy increase to 70%, says Georgy Ostapkovich, director of the Center for Conjunctural Research at the Institute for Economic Research of the National Research University Higher School of Economics.

On April 9, the second part of Trump's previously announced trade duties will come into effect. From that day on, increased tariffs for a number of countries: for example, for Cambodia - 49%, for Vietnam - 46%, for Japan - 24%, and for EU countries - 20%. For China, they have been raised to 104%, as the republic has introduced retaliatory measures.

Read more in the exclusive material of Izvestia:

Import additions: Trump's trade war threatens the world with recession