The European taxes, which are expected to come into force in two phases (April 26.000 and mid-month), amount to a total of €XNUMX billion and affect American products as emblematic as the bourbon of Kentucky or the cowboys Levi'sIt should be noted that Brussels agreed to impose these duty in response to the 25% tax on aluminum and steel imports that came into effect on March 12.
If they carry out their threat, the tariffs would represent a dramatic escalation in the commercial war across United States and the European Union with disastrous consequences for the global economy. In fact, the latest report from the OECD It already reflects the impact of trade barriers on the US economy: it predicts a slowdown in growth from 2,8% last year to 2,2% this year and 1,6% in 2026.
In addition, rising trade barriers will contribute to persistent inflation, leading to the Federal Reserve to keep interest rates unchanged until mid-2026, he points out. This forecast, however, contrasts with the latest inflation data in the United States, which fell to 2,8% in February, more than expected, reinforcing the idea that the Federal Reserve cut interest rates this year.
Source: CESCE
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