Tariff Barriers only 0.3% of world imports

The Oxford Economics chart below shows the effect tariffs, pending tariffs, potential tariffs will have on global trade.

The current and pending tariffs will have a small impact on global trade growth, but the threatened tariffs will have a medium sized impact on trade which could cause a temporary but sizable decline in trade. The scary part is the threats keep increasing which means the potential for a recession caused by tariffs is getting more likely (it still has a low probability now).

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