Redi Tlhabi's discussion with economist Ha-Joon Chang highlights the potential global fallout from President Trump's newly imposed tariffs. Chang explains that the 10% tariffs across all imports, alongside targeted tariffs on other nations, may ignite retaliatory actions from those countries. He emphasizes that such a shift towards protectionism not only complicates international trade relations but may also hinder economic growth globally, creating ripples in market stability and consumer prices. The discussion prompts a closer look at the ramifications of such economic policies in an interconnected world.
Ha-Joon Chang points out that the introduction of tariffs by the US can trigger retaliatory measures from other countries, which may lead to a prolonged trade war affecting global markets.
According to Chang, the recent tariffs indicate a shift towards protectionism, raising concerns about its impact on international trade dynamics and economic growth.
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