Trade wars could result from Covid-19 driven economic downturn

20th May 2020 (Last Updated May 20th, 2020 08:27)

20 May

Global trade wars could result from the devastating economic impact caused by the Covid-19 pandemic. Some countries have held China accountable for not controlling the spread of the disease.

Prof. Steve Hanke, Applied Economist Johns Hopkins University, shared an article on the 80% tariff imposed by China on barley exports from Australia for five years.

China is imposing the tariff after Australia became one of 100 countries that called for a probe into the spread of the Covid-19 disease.

Similar actions on other countries are also expected in the near future, with experts predicting that global trade wars are in the making.

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