{"id":130082,"date":"2024-11-26T00:20:05","date_gmt":"2024-11-25T17:20:05","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=130082"},"modified":"2024-11-26T00:20:05","modified_gmt":"2024-11-25T17:20:05","slug":"trump-tariff-on-china-could-lower-global-inflation-says-uk-economist-international-trade","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=130082","title":{"rendered":"Trump tariff on China could lower global inflation, says UK economist | International trade"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"dcr-1eu361v\">Donald Trump imposing massive US tariffs on Chinese imports could drag down global inflation by lowering the price of goods in other countries, a senior <a href=\"https:\/\/www.theguardian.com\/business\/bankofenglandgovernor\" data-link-name=\"in body link\">Bank of England<\/a> policymaker has said.<\/p>\n<p class=\"dcr-1eu361v\">Swati Dhingra, an external member of the Bank\u2019s rate-setting monetary policy committee, said Trump imposing a threatened <a href=\"https:\/\/www.theguardian.com\/business\/2024\/nov\/07\/more-tariffs-less-red-tape-what-trump-will-mean-for-key-global-industries\" data-link-name=\"in body link\">60% tariff on goods from China<\/a> sold in the US could lead Chinese exporters to cut their prices elsewhere to ensure they maintained current trade volumes.<\/p>\n<p class=\"dcr-1eu361v\">\u201cIf there is the kind of big 60% type of tariff increase that\u2019s been proposed, that will have repercussions on to world prices, and mostly on the downward direction,\u201d she said.<\/p>\n<p class=\"dcr-1eu361v\">Speaking at a conference in London on Monday, the economist said there was heightened uncertainty about what policies the president-elect would carry through from the campaign trail. Trump warned before this month\u2019s election that he would slap tariffs of up to 60% on <a href=\"https:\/\/www.theguardian.com\/world\/china\" data-link-name=\"in body link\" data-component=\"auto-linked-tag\">China<\/a> and up to 20% on other US trade partners.<\/p>\n<figure id=\"886d9aed-2ec6-4612-9962-6815fb7ef4af\" data-spacefinder-role=\"richLink\" data-spacefinder-type=\"model.dotcomrendering.pageElements.RichLinkBlockElement\" class=\" dcr-1your1i\"><gu-island name=\"RichLinkComponent\" priority=\"feature\" deferuntil=\"idle\" props=\"{&quot;richLinkIndex&quot;:4,&quot;element&quot;:{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.RichLinkBlockElement&quot;,&quot;prefix&quot;:&quot;Related: &quot;,&quot;text&quot;:&quot;Trump vows to impose tariffs as experts warn of price hikes and angry allies&quot;,&quot;elementId&quot;:&quot;886d9aed-2ec6-4612-9962-6815fb7ef4af&quot;,&quot;role&quot;:&quot;richLink&quot;,&quot;url&quot;:&quot;https:\/\/www.theguardian.com\/us-news\/2024\/oct\/15\/trump-tariffs-price-hikes-warnings&quot;},&quot;ajaxUrl&quot;:&quot;https:\/\/api.nextgen.guardianapps.co.uk&quot;,&quot;format&quot;:{&quot;design&quot;:0,&quot;display&quot;:0,&quot;theme&quot;:0}}\"\/><\/figure>\n<p class=\"dcr-1eu361v\">However, Dhingra said the \u201ctextbook\u201d impact of the world\u2019s largest goods importer imposing such a large tariff on products from the world\u2019s biggest exporter would be for global goods prices to fall.<\/p>\n<p class=\"dcr-1eu361v\">Chinese firms would respond to tougher trade barriers by attempting to find buyers in alternative markets, which could lead them to lower their prices to sell similar volumes, including in the UK, she said.<\/p>\n<p class=\"dcr-1eu361v\">\u201cIt takes a massive amount of demand out of the world market. The way exporters, say in China, would respond to that would be to respond with prices, world prices, as they don\u2019t want to lose market share,\u201d she said.<\/p>\n<p class=\"dcr-1eu361v\">Economists have warned Trump imposing punitive import tariffs on US trading partners will <a href=\"https:\/\/www.theguardian.com\/business\/2024\/nov\/06\/inflation-looks-to-have-secured-trump-win-but-his-policies-mean-higher-prices\" data-link-name=\"in body link\">drive up inflation in the world\u2019s largest economy<\/a>, as the costs would be borne by US consumers. However, it would also affect the wider global economy.<\/p>\n<figure data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.NewsletterSignupBlockElement\" class=\" dcr-173mewl\"><a data-ignore=\"global-link-styling\" href=\"#EmailSignup-skip-link-9\" class=\"dcr-jzxpee\">skip past newsletter promotion<\/a><\/p>\n<aside aria-label=\"newsletter promotion\" class=\"dcr-av5vqf\">\n<div class=\"dcr-10et71f\">\n<p class=\"dcr-rsfwa\">Sign up to <span>Business Today<\/span><\/p>\n<\/div>\n<p class=\"dcr-1xjndtj\">Get set for the working day \u2013 we&#8217;ll point you to all the business news and analysis you need every morning<\/p>\n<p><gu-island name=\"SecureSignup\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;newsletterId&quot;:&quot;business-today&quot;,&quot;successDescription&quot;:&quot;Get set for the working day \u2013 we'll point you to all the business news and analysis you need every morning&quot;}\"\/><span class=\"dcr-1eusqlu\"><strong>Privacy Notice: <\/strong>Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our <a data-ignore=\"global-link-styling\" href=\"https:\/\/www.theguardian.com\/help\/privacy-policy\" rel=\"noreferrer\" class=\"dcr-1rjy2q9\">Privacy Policy<\/a>. We use Google reCaptcha to protect our website and the Google <a data-ignore=\"global-link-styling\" href=\"https:\/\/policies.google.com\/privacy\" rel=\"noreferrer\" class=\"dcr-1rjy2q9\">Privacy Policy<\/a> and <a data-ignore=\"global-link-styling\" href=\"https:\/\/policies.google.com\/terms\" rel=\"noreferrer\" class=\"dcr-1rjy2q9\">Terms of Service<\/a> apply.<\/span><\/aside>\n<p id=\"EmailSignup-skip-link-9\" tabindex=\"0\" aria-label=\"after newsletter promotion\" role=\"note\" class=\"dcr-jzxpee\">after newsletter promotion<\/p>\n<\/figure>\n<figure id=\"19db4516-a878-4f0b-abfd-30372add587d\" data-spacefinder-role=\"richLink\" data-spacefinder-type=\"model.dotcomrendering.pageElements.RichLinkBlockElement\" class=\" dcr-1your1i\"><gu-island name=\"RichLinkComponent\" priority=\"feature\" deferuntil=\"idle\" props=\"{&quot;richLinkIndex&quot;:10,&quot;element&quot;:{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.RichLinkBlockElement&quot;,&quot;prefix&quot;:&quot;Related: &quot;,&quot;text&quot;:&quot;China posts record trade surplus as foreign importers rush to beat tariffs&quot;,&quot;elementId&quot;:&quot;19db4516-a878-4f0b-abfd-30372add587d&quot;,&quot;role&quot;:&quot;richLink&quot;,&quot;url&quot;:&quot;https:\/\/www.theguardian.com\/business\/article\/2024\/jul\/12\/china-posts-record-trade-surplus-as-foreign-importers-rush-to-beat-tariffs&quot;},&quot;ajaxUrl&quot;:&quot;https:\/\/api.nextgen.guardianapps.co.uk&quot;,&quot;format&quot;:{&quot;design&quot;:0,&quot;display&quot;:0,&quot;theme&quot;:0}}\"\/><\/figure>\n<p class=\"dcr-1eu361v\">Dhingra said much would depend on the response to a burgeoning trade war, particularly if governments chose to retaliate with \u201ctit for tat\u201d tariffs on US imports, or with protectionist measures to prevent an influx of cheap Chinese goods reallocating away from the US market.<\/p>\n<p class=\"dcr-1eu361v\">\u201cThen we\u2019re in a completely different situation,\u201d she said.<\/p>\n<p class=\"dcr-1eu361v\">Drawing a comparison with Brexit, Dhingra said that leaving the EU had led to \u201cpermanently\u201d higher prices of products for British households. This had generated inflation as prices rose, before prices stabilised at a higher level.<\/p>\n<p class=\"dcr-1eu361v\">\u201cWe saw much higher price increases in the UK compared to everywhere else and those pressures have now come off much more quickly as well, for the reason they\u2019re not inflationary, they change the price levels, permanently,\u201d she said.<\/p>\n<p class=\"dcr-1eu361v\">Analysts have warned that the euro <a href=\"https:\/\/www.theguardian.com\/business\/2024\/nov\/25\/possible-europe-us-trade-war-could-push-euro-into-parity-with-the-dollar\" data-link-name=\"in body link\">risks falling to parity with the US dollar<\/a> for the first time since late 2022 if a new transatlantic trade war weakens the already struggling eurozone economy.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.theguardian.com\/business\/2024\/nov\/25\/trump-tariff-on-china-could-lower-global-inflation-says-bank-economist\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Donald Trump imposing massive US tariffs on Chinese imports could drag down global inflation by lowering the price of goods in other countries, a senior Bank of England policymaker has &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=130082\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-130082","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/130082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130082"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/130082\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}