Comment on The world's biggest shipping company warns Trump's trade war will hurt America more than anyone else

The world's biggest shipping company warns Trump's trade war will hurt America more than anyone else

Reuters CEO of Maersk, the world's largest shipping company, warns the impact of President Donald Trump's trade war will be bigger in the US than anywhere else. It could knock 4% off US trade annually, Soren Skou said at an event in Denmark. The impact would be particularly large if the US attempted to place tariffs on consumer goods coming from China. The CEO of AP Moller-Maersk, the world's biggest operator of container ships, has warned that President Donald Trump's trade war will ultimately be more harmful to the US than any other country. Speaking at Maersk's global headquarters in Copenhagen, Denmark, Soren Skou said the US-led conflict, which has seen Washington and Beijing exchange numerous rounds of threats about tariffs, is likely to have the biggest downsides in the US, thanks to its outsized reliance on foreign-produced consumer goods.See the rest of the story at Business InsiderNOW WATCH: INSIDE WEST POINT: What it’s really like for new Army cadets on their first daySee Also:The lira surged 7% after Turkey hit back at US 'attacks' by slapping American cars, alcohol, and tobacco with huge tariffsIt's becoming more and more clear that Brexit is driving EU nationals out of the UKGOLDMAN SACHS WARNS: The worst-case scenario for a global trade war could wipe out the stock market's most important driverSEE ALSO: Trump is reportedly preparing to weaken the dollar — here's why it will be nearly impossible and won't really fix anything

 

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