Shipping giant warns Trump tariffs 'could easily'

[Judi Lynn]

Source: The Hill


BY ARIS FOLLEY - 08/20/18 11:20 AM EDT

The chief executive officer of the world’s largest shipping company, AP Moller-Maersk, warned that President Trump’s trade war “could easily” end up hitting the U.S. economy harder than the rest of the world.

Soren Skou said during a presentation at his company’s headquarters on Friday that the president’s escalating trade war “could easily end up being bigger in the U.S.,” Bloomberg reported.

Skou argued that while global annual trade growth could decrease by 0.1 to 0.3 percent, U.S. trade could suffer a blow of “perhaps 3 or 4 percent.”

“And that would definitely not be good,” Skou added, according to the news outlet.

Read more: http://thehill.com/policy/finance/402637-worlds-biggest-shipping-company-warns-trump-tariffs-could-easily-end-up

[Eliot Rosewater]

1. Now you're catching on, Putin aint no dummy. He wants to destroy us, and he has a traitor to help

[ProudMNDemocrat]

2. The US Markets affect the rest of the world.....

And Putin is biding his time for his takeover.

[procon]

3. Whether its military or trade wars, bin Laden, Putin and Trump have a common goal.

The goal to weaken the nation and bring the US to its knees, first through endless wars, then the financial Recession, and now Trump's trade wars, which he crows is one of his grand achievements.

Osama bin Laden vowed to destroy us and he got exactly what he wanted: a US losing stature and throwing away its wealth fighting endless wars against Muslims. Putin is delighted that his puppet king, Trump, is using senseless trade wars to carry on with the same mission.

[JHan]

12. I don't know if Putin is behind this really, this is old conservatism..

Pat Buchanan has argued for high tariffs and protectionism.

What this does is expose the xenophobia, nationalism and absurd isolationism at the heart of Conservatism. It proves that Conservatism hurts America to the core- economically, socially, globally. And the fallout will be America losing her influence which benefits Putin of course.

[LittleGirl]

13. Bingo, well stated! eom

[pangaia]

4. ".. "could easily" end up hitting the U.S. economy harder than the rest of the world. "

Well, that is the intent...

Putin has trump by the balls

[elmac]

5. good

that is what voters wanted, and to the bible thumping fascists, you reap what you sow. Hope they all suffer bigly.

[DavidDvorkin]

7. No, a majority voted against him

And of course even most of those who voted for him were fools who believed his promises, so they weren't voting for this, either.

[jalan48]

6. Shock Doctrine Trump style.

[Liberalagogo]

8. Meanwhile in Russia...

[WhiteTara]

9. This is all intentional.

[SWBTATTReg]

10. And we think that things are bad now? With the way things are going w/ rump ...

and his so called administration, who are far more interested in playing games of morality (theirs by the way, not ours) and not actually governing the country, paying attention to serious, 'real' issues, something is going to slip by and happen, and by then, the damage will be done.

The accumulating debt, especially made worse by the 2018 tax law, as well as a worthless Congress who continues to just sit on their hands and do nothing because of a fear of a rump backlash, if they say anything.

Should an emergency happens, rump is going to make the situation far worse because he already has shown many times that he mouths off first, before even thinking. No wonder he's declared bankruptcy so many times and that Banks here in the US won't have anything to do w/ him and his ilk.

[Scarsdale]

11. McConnell must not have

heard this yet. His father in law (who must be older than Methuselar) is in the shipping business bigly. Mostly cocaine from what I heard. He will not be happy.

[Demonaut]

14. Soren Skou:

A truly self made man


https://en.wikipedia.org/wiki/S%C3%B8ren_Skou