Rates up, taxes down – that is the policy of Donald Trump, who is now being sworn in as US president for the second time. His protectionist trade policies will transform global trade. Austria and the whole of Europe could lose precisely that export market that has developed particularly well recently.
Donald Trump likes to exaggerate in election campaigns and exceeds many objectives with his announcements. But from his first term in office it became clear: when it comes to trade barriers, the politician usually keeps his promises. He sees tariffs as a universal weapon: they are intended to save American industry, bring a lot of money into the treasury and at the same time be a means of pressure and an instrument of power.
Now the Republican will be sworn in again as president of the United States on January 20. Even though it is not yet entirely clear what Trump’s trade policy will look like in detail, the first measures are already emerging – and they will hit Europe and Austria hard.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
