The key to understanding the real global impact of the Liberation Day tariffs is the proportion of global trade accounted for by imports & exports to the USA....
In the 1950s, the US share of global trade was around 40-45%;
by the 1970s this has declined to around 25%;
Now it is in the region of 13-15%.
So, in the 1950s, or even the 1970s Trump's actions would have been likely more disruptive than now.
The issue is how quick can exporters redirect their trade to non-US markets?
#economics
Emeritus Prof Christopher May /
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2025-04-08 06:16:07
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2025-04-08 06:16:07Event JSON
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"content": "The key to understanding the real global impact of the Liberation Day tariffs is the proportion of global trade accounted for by imports \u0026 exports to the USA....\n\nIn the 1950s, the US share of global trade was around 40-45%;\n\nby the 1970s this has declined to around 25%;\n\nNow it is in the region of 13-15%.\n\nSo, in the 1950s, or even the 1970s Trump's actions would have been likely more disruptive than now.\n\nThe issue is how quick can exporters redirect their trade to non-US markets?\n\n#economics",
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