Trump's 'America First' policy could trigger a global economic crisis? Jim Rogers says...
Jim Rogers, the investing legend, has issued a dire warning on US President-elect Donald Trump's 'America First' policy. The veteran market analyst is advising people to have a cautious outlook on stock markets, especially those in the United States, and opt to invest in safe-haven assets like gold and silver. Both gold and silver are considered popular hedges against inflation.
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The investing guru has said that Donald Trump's 'America First' policy is not good even for the US, and also not for the world. Trade wars will exacerbate global inflation and push the world into another recession, Jim Rogers has warned.
Trump ran a campaign centered on the promise to Make America Great Again (MAGA).Trump’s tariffs are expected to raise the US’s domestic inflation and, with that, force the US central bank to keep interest rates high. Trump tariffs will most likely also result in a trade war that will disrupt established global supply chains.
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Trump has vowed to promote local manufactured goods by imposing high import duties on products entering the country. Economists have expressed concerns this may push the world into a trade war of tariffs and counter tariffs. The surge in tariffs on goods, commodities and products will ultimately lead to a surge in global inflation.
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