Trump’s signal of protectionism raises risks of trade wars, retaliatory tariffs
NEW DELHI: Donald Trump took oath of office as the 45th President of United States of America, with a call to buy American and hire American, where analysts saw threats of trade wars, retaliatory tariffs, currency wars in the global economy
In an inaugural address that smacked of an era of fierce protectionism for American jobs and trade, Trump vowed to put America first in everything he does, sending out a strong signal to the world. He promised to bring jobs back to the US, and “eradicate completely” Islamic terrorism.
Jittery global markets, including Indian market, could react negatively when trading resumes on Monday.
Most of the global markets closed the week in the red. The FTSE of Britain saw a 1.2 per cent cut, while Dow Jones slipped 1.1 per cent, Nikkei 0.8 per cent and the Sensex 0.7 per cent.