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Trade war will push the world into recession, warns Deutsche Bank

third-world-warBerlin: Germany’s ‘Deutsche Bank’ has warned that the aggressive policies adopted by US President Donald Trump will push the world in a deep abyss of recession. Before this, the World Trade Organisation and the International Monetory Fund have also expressed concern about global recession that could trigger due to the US President’s policies.

Deutsche-BankThe Deutsche Bank report enlists four factors that could be responsible for recession. These include the taxes imposed by the United States on Steel and Aluminium imports, resignation of the National Economic Council Head Garry Cohn, US President Trump’s tweet regarding the trade war and the additional taxes to be imposed on Chinese goods.

The aggressive policies adopted by President Trump will face retaliation from the US trade partners like China, Canada and Mexico, claims the Deutsche Bank report. The report states that there is a possibility that the prediction of the international scholars of “a trade war after President Trump assumes power” might become a reality.

(Courtesy: www.newscast-pratyaksha.com)

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