Central Bank: Trump’s tariffs minor globally

The Danish Central Bank’s analysis suggests that President Trump’s trade war with China had negligible impact on global trade, Politiken reports. Under Trump’s tenure, the U.S. minimized imports from China, leading to other countries augmenting their exports to the U.S. Despite Trump’s threats of imposing tariffs, such as up to 60% on Chinese goods, to promote American manufacturing, the overall global trade remained largely unaffected. Trade often occurred through third countries to avoid tariffs. Critics of these tariffs warn they could cause higher inflation, increasing costs for consumers due to either import tariffs or increased domestic production costs.