Donald Trump's re-election could start a trade war that would be an 'economic nightmare' for Britain and Europe, analysts warned last night. Analysts at ING bank yesterday said Trump's re-election was 'Europe's worst economic nightmare come true', warning investors: 'A looming new trade war could push the eurozone economy from sluggish growth into a full-blown recession.' The Kiel Institute for the World Economy said Trump's victory was the 'most difficult economic moment' for the country since the end of the Second World War. It comes after a report by a leading think tank showed that UK economic growth could more than halve next year if Trump implements his pledged tariffs. 'Because the UK is a small, open economy, the UK is one of the most affected by increased trade tariffs,' it said.

Source: Daily Mail November 07, 2024 09:02 UTC