Coronavirus To Become Bigger Trade Barrier Than U.S.-China Spat

The coronavirus is turning into the world’s biggest trade barrier that will exceed the implications of the U.S.-China tariff spat that kept exporters on edge last year.

The virus epidemic will cost global trade $320 billion a quarter, according to calculations by Euler Hermes. Losses in the first three months of the year will equal an increase of global import duties by 0.7 percentage point, and are comparable to the hit to foreign sales from all trade-war-related levies introduced in 2019, the trade credit insurer said.

Read more at Bloomberg.

Leave a Reply

Your email address will not be published. Required fields are marked *