Shipping giant warns Trump tariffs 'could easily'
Source: The Hill
BY ARIS FOLLEY - 08/20/18 11:20 AM EDT
The chief executive officer of the worlds largest shipping company, AP Moller-Maersk, warned that President Trumps trade war could easily end up hitting the U.S. economy harder than the rest of the world.
Soren Skou said during a presentation at his companys headquarters on Friday that the presidents escalating trade war could easily end up being bigger in the U.S., Bloomberg reported.
Skou argued that while global annual trade growth could decrease by 0.1 to 0.3 percent, U.S. trade could suffer a blow of perhaps 3 or 4 percent.
And that would definitely not be good, Skou added, according to the news outlet.
Read more: http://thehill.com/policy/finance/402637-worlds-biggest-shipping-company-warns-trump-tariffs-could-easily-end-up
Eliot Rosewater
(31,112 posts)ProudMNDemocrat
(16,785 posts)And Putin is biding his time for his takeover.
procon
(15,805 posts)The goal to weaken the nation and bring the US to its knees, first through endless wars, then the financial Recession, and now Trump's trade wars, which he crows is one of his grand achievements.
Osama bin Laden vowed to destroy us and he got exactly what he wanted: a US losing stature and throwing away its wealth fighting endless wars against Muslims. Putin is delighted that his puppet king, Trump, is using senseless trade wars to carry on with the same mission.
JHan
(10,173 posts)Pat Buchanan has argued for high tariffs and protectionism.
What this does is expose the xenophobia, nationalism and absurd isolationism at the heart of Conservatism. It proves that Conservatism hurts America to the core- economically, socially, globally. And the fallout will be America losing her influence which benefits Putin of course.
LittleGirl
(8,287 posts)pangaia
(24,324 posts)Well, that is the intent...
Putin has trump by the balls
that is what voters wanted, and to the bible thumping fascists, you reap what you sow. Hope they all suffer bigly.
DavidDvorkin
(19,479 posts)And of course even most of those who voted for him were fools who believed his promises, so they weren't voting for this, either.
jalan48
(13,867 posts)Liberalagogo
(1,770 posts)WhiteTara
(29,715 posts)SWBTATTReg
(22,129 posts)and his so called administration, who are far more interested in playing games of morality (theirs by the way, not ours) and not actually governing the country, paying attention to serious, 'real' issues, something is going to slip by and happen, and by then, the damage will be done.
The accumulating debt, especially made worse by the 2018 tax law, as well as a worthless Congress who continues to just sit on their hands and do nothing because of a fear of a rump backlash, if they say anything.
Should an emergency happens, rump is going to make the situation far worse because he already has shown many times that he mouths off first, before even thinking. No wonder he's declared bankruptcy so many times and that Banks here in the US won't have anything to do w/ him and his ilk.
Scarsdale
(9,426 posts)heard this yet. His father in law (who must be older than Methuselar) is in the shipping business bigly. Mostly cocaine from what I heard. He will not be happy.
Demonaut
(8,917 posts)A truly self made man
https://en.wikipedia.org/wiki/S%C3%B8ren_Skou