Trump’s latest tariff salvos land at the worst possible moment
As Section 301 duties take effect, a widening Iran war, surging food prices and shaky AI valuations are converging into a single inflationary threat.
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An American flag hanging from a crane at Port Liberty in Bayonne, New Jersey, on July 24, a day after the launch of new tariffs imposed by the Trump administration.
PHOTO: AFP
New tariffs imposed by the Trump administration on July 23 will compound the polycrisis hitting the global economy, coming on top of a renewed oil shock, rising food prices, and valuation concerns around big tech.
This noxious cocktail will not only threaten higher inflation, but may also trigger turmoil in financial markets, already reflected in increasingly nervous bond markets.
