A successful election campaign with a continuity of the Trump protectionist approach to international trade, and a continuity of tariffs on goods entering the US, could plunge the global economy into full-blown recession. It said US tariffs and Chinese retaliatory measures currently in place could wipe €405bn off global growth next year. US businesses are also set to lose out on their exports to China which will be hit by the retaliatory tariffs. It estimated that EU exporters are likely to pick up €62bn of the US-China bilateral trade. - John Whelan is managing partner of international trade consultancy The Linkage-Partnership

Source: Irish Examiner June 09, 2019 17:15 UTC