Trump's tariffs could prove to be a "nuclear bomb" on international trade and tech imports, experts warn

A hot potato: President Donald Trump has dropped what experts are calling a "nuclear bomb" on international trade. On Wednesday, he confirmed sweeping new tariffs of at least 10% on all imports into the United States – with significantly higher duties targeting both allies like the European Union and economic rivals like China. Most trade experts believe the move will provoke further tit-for-tat tariffs, fueling a potentially devastating and deflationary global trade war with no clear winners. This aggressive escalation of Trump's trade wars could mean higher prices on virtually every product Americans purchase from overseas. Worse, analysts predict the tariffs could trigger recessions in multiple countries within the next year. "He just dropped a nuclear bomb on the global trading system," declared Ken Rogoff, former chief economist at the International Monetary Fund, in an interview with the BBC. As a reaction to the announcement, technology stocks plunged Thursday (figures above r ... Read full article.