💨 Abstract

The World Trade Organization estimates that U.S.-China trade tensions could reduce goods trade between the two economies by up to 80%. This trade conflict, if prolonged, could result in a significant long-term reduction in global real GDP by almost 7%. The WTO's preliminary estimate comes as U.S. President Donald Trump has raised tariffs on Chinese imports but temporarily halted others for 90 days.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖