As congratulations poured in from world leaders, Trump claimed on Wednesday he had been given a "powerful mandate" to rule. Tariffs inhibit global trade, lower growth for exporters, and weigh on public finances for all parties involved. The International Monetary Fund has already characterised global growth as weak, with most nations producing "feeble" expansion. A further hit to global trade is likely to present a downside risk to its 3.2% GDP growth projection for next year. Governments are also likely to retaliate against any US import duty, inhibiting trade further and cutting deeper into global growth.
