US President Donald Trump’s decision to introduce extensive duties is less harmful to the country than some believe, and such a policy can actually strengthen the economies of countries with a large domestic market such as the United States. This view was expressed by Mathias Hoffmann, a professor of international trade and finance at the University of Zurich (Universität Zurich, UZH), in an interview for Saturday (5 4.) The edition of Neue Zürcher Zeitung (NZZ). TASR informs this based on the TASS report.
The latest economic studies show that duties have different influence on countries, with “the decisive factor is the size of the domestic market,“He said an expert. In the case of huge markets such as the United States or China, international companies have no choice because leaving these markets” is not an option “, Hoffmann explained.
“The German car manufacturer would rather build a plant in the US, as if to give up the market for durs,” approached. In his view, different companies will consider a similar way, and this dynamics could strengthen the economies of countries such as the US or China. Therefore, Trump’s customs policy is “less disastrous for the US than some believe”, concluded Hoffmann.
