The article critiques the Trump administration's handling of the US-China trade war, highlighting the immediate economic repercussions of a recent trade decree that led to a significant drop in container bookings from China. It warns of rising unemployment and emphasizes that the repercussions of tariffs won't just affect trade but also ripple through local economies. The International Monetary Fund indicates a growing probability of global growth dropping below 2%, signaling potential recession threats, particularly for economies like the UK, which lack the resilience of emerging markets.
When warehouses fall quiet and trucks idle in California, the silence will creep eastward. Unemployment will surely tick upwards.
Escalating US tariffs, says the IMF, are the main reason behind the darkening skies.
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