{"id":135605,"date":"2025-02-03T22:24:01","date_gmt":"2025-02-03T22:24:01","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/us-tariffs-to-shock-global-trade-amid-emerging-new-globalization"},"modified":"2025-02-10T22:35:00","modified_gmt":"2025-02-10T22:35:00","slug":"us-tariffs-to-shock-global-trade-amid-emerging-new-globalization","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/us-tariffs-to-shock-global-trade-amid-emerging-new-globalization","title":{"rendered":"US tariffs to shock global trade amid emerging \u2018new globalization\u2019"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Kenya. <\/strong><\/span>President Donald Trump\u2019s additional tariffs on Canada, Mexico, and China are expected to shock global trade amid an emerging era of \u201cnew globalization,\u201d with increasing protectionist trade policies and rising competition in technology.<\/p>\n<p>Trump announced 25% additional tariffs will be imposed on imports from Canada and Mexico and 10% on Chinese goods, as well as 10% on Canadian energy imports, effective after midnight Eastern Standard Time (EST) on Tuesday.<\/p>\n<p>The size of imports subjected to additional tariffs is estimated to reach $1.4 trillion.<\/p>\n<p>Deutsche Bank said in a recent analysis that Trump\u2019s tariffs are expected to be \u201cthe largest shock in global trade since the collapse of Breton Woods\u201d in the 1970s.<\/p>\n<p>\u201cWe see immediate recessionary consequences for some of the economies involved and broad-based negative read-across to the world economy,\u201d it noted.<\/p>\n<p>If these tariffs continue, the trade shock for Canada and Mexico could have a much larger impact, even larger than that of Brexit for the UK, and the tariffs will likely lead the two countries into recession in the coming weeks.<\/p>\n<p>London-based Capital Economics said that Trump\u2019s tariffs are \u201cjust the first strike in what could become a very destructive global trade war.\u201d<\/p>\n<p>The financial firm stated that the US will also impose additional tariffs on EU imports within a month or two, while a universal tariff may be coming in April.<\/p>\n<p>\u201cThe resulting surge in US inflation from these tariffs and other future measures is going to come even faster and be larger than we initially expected. Under those circumstances, the window for the Fed to resume cutting interest rates at any point over the next 12 to 18 months just slammed shut,\u201d it said.<\/p>\n<p><b>\u2018Tariffs are not good for growth, investment at global level\u2019<\/b><\/p>\n<p>Paul Gruenwald, global chief economist at S&amp;P Global Ratings, told Anadolu that the increasing protectionism in global trade will usher in an era of \u201cnew globalization\u201d as trade flows continue to transform.<\/p>\n<p>\u201cOur view is that tariffs are not good for growth, they&#8217;re not good for investment at the global level, and combined with some of the other policies that Trump is proposing, they might be putting more inflationary pressure into the system, so that also means a world of higher interest rates,\u201d he said, noting that market players expect more volatility and firms are trying to protect themselves with measures.<\/p>\n<p>Gruenwald stated that the Trump administration\u2019s new policies of increasing growth, restricting trade, and deporting immigrants, will cause inflation to rise.<\/p>\n<p>\u201cThere\u2019s a rising risk that the Fed may actually have to start raising rates later this year, if the US economy doesn\u2019t slow down and inflation pressures pick up, so that would be a shock, not only to the US, but for the rest of the world,\u201d he said.<\/p>\n<p>\u201cWe&#8217;re watching closely tariffs this year, but also watching the Fed, which is essentially the world\u2019s central bank, and whether they will need to change course later in the year, that\u2019s something we&#8217;ve got on our radar screen,\u201d he added.<\/p>\n<p><b>Moving beyond China Plus One to new globalization<\/b><\/p>\n<p>Gruenwald stated that globalization, which was prominent in global trade for many years, was when there were no borders and production was made in the lowest-cost places.<\/p>\n<p>\u201cMy takeaway coming out of Davos is that the global trading system continues to evolve,\u201d he said, and added: \u201cAn evolution of the US-China relationship, and firms in the global trading environment are correspondingly responding.\u201d<\/p>\n<p>\u201cIt looks like we\u2019re going to something beyond the China Plus One strategy, and that\u2019s currently called the new globalization,\u201d he added.<\/p>\n<p>Gruenwald highlighted that competition will increase between the US and China and the consequences of the new period, such as in economic growth, trade, and corporate profits will be analyzed.<\/p>\n<p>He mentioned that tech advancements, especially in artificial intelligence (AI) will be key to the competition.<\/p>\n<p>Gruenwald stated that while the US is a leading player in AI, China is ramping up its competition with recent developments, but Europe may be left behind in the \u201crace for global influence\u201d if it does not fix its structural issues and make the necessary reforms.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Kenya<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Kenya. President Donald Trump\u2019s additional tariffs on Canada, Mexico, and China are expected to shock global trade amid an emerging era of \u201cnew globalization,\u201d with increasing protectionist trade policies and rising competition in technology. Trump announced 25% additional tariffs will be imposed on imports from Canada and Mexico and 10% on Chinese goods, [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":135604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[14080,544,14079,14025,2908],"class_list":["post-135605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-globalization","tag-kenya","tag-protectionist","tag-tariffs","tag-trump"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>US tariffs to shock global trade amid emerging \u2018new globalization\u2019 - kenya<\/title>\n<meta name=\"description\" content=\"President Donald Trump\u2019s additional tariffs on Canada, Mexico, and China are expected to shock global trade amid an emer ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/us-tariffs-to-shock-global-trade-amid-emerging-new-globalization\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US tariffs to shock global trade amid emerging \u2018new globalization\u2019\" \/>\n<meta property=\"og:description\" content=\"President Donald Trump\u2019s additional tariffs on Canada, Mexico, and China are expected to shock global trade amid an emer ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/us-tariffs-to-shock-global-trade-amid-emerging-new-globalization\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-03T22:24:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-10T22:35:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2025\/02\/sm_1738610045.021096.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/us-tariffs-to-shock-global-trade-amid-emerging-new-globalization#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/us-tariffs-to-shock-global-trade-amid-emerging-new-globalization\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"US tariffs to shock global trade amid emerging \u2018new globalization\u2019\",\"datePublished\":\"2025-02-03T22:24:01+00:00\",\"dateModified\":\"2025-02-10T22:35:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/us-tariffs-to-shock-global-trade-amid-emerging-new-globalization\"},\"wordCount\":715,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/us-tariffs-to-shock-global-trade-amid-emerging-new-globalization#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2025\/02\/sm_1738610045.021096.jpg\",\"keywords\":[\"Globalization\",\"Kenya\",\"protectionist\",\"tariffs\",\"Trump\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/us-tariffs-to-shock-global-trade-amid-emerging-new-globalization#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/us-tariffs-to-shock-global-trade-amid-emerging-new-globalization\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/us-tariffs-to-shock-global-trade-amid-emerging-new-globalization\",\"name\":\"US tariffs to shock global trade amid emerging \u2018new globalization\u2019 - 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