“In combination with the ongoing political chaos in trade and national fiscal issues, along with still large losses on the stock markets and impact on trust, it is still difficult to avoid recession in the US,” say JPMorgan economists quoted by CNN.
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Economists estimate the chances of recession at 60 percent.
According to JPmorgan, despite Trump's part of the duties for 90 days, the chances of the arrival of global recession are still very high.
The bank still sees 60 percent Chances for recession in the USA and in the world, even after President Donald Trump announced a 90-day break in most duties. Bankers estimated that Trump's decision is a step in the right direction, but “the trade war is still far from the end.”
Check: The customs war is gaining strength. The European Union will impose duties on the USA
What duties did Donald Trump introduce?
Donald Trump on April 5 introduced a basic customs rate of 10 percent. for almost all products imported to the USA. Special rates of 34 percent and 20 percent He imposed on China and the European Union.
On Wednesday evening, Polish time Donald Trump announced that the new duties were suspended for three months. During this period, countries from the list, including Poland, will be covered by a minimum customs rate of 10 percent. The exception is China, which is covered by a customs rate of 125 percent.
