AI In-Brief

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AI In-brief 20 Sept 11:52

Will Trump’s spectre of tariffs push the global economy into a recession?

President Trump initiated sweeping tariffs, including a 10% baseline and much higher rates on countries like China, aiming to reduce trade deficits and boost US manufacturing, which immediately caused global market turmoil and retaliatory tariffs from China.
The aggressive tariff strategy led to significant instability in US bond and currency markets, prompting Trump to temporarily pause higher tariffs for most nations, though excluding China, and later exempting electronics, indicating a volatile and unpredictable trade policy.
Economists compare Trump's proposed tariffs to the historically damaging Smoot-Hawley levels, arguing they will not achieve their goals and reverse decades of successful global trade liberalization.
Experts, including the WTO, warn that these escalating trade tensions, particularly between the US and China, pose a significant risk of global trade contraction, reduced GDP growth, and a potential worldwide economic recession due to investment delays and cautious consumer spending.

AI In-brief Today 17:18

The Opposition plans to censure 18 Cabinet ministers, including the prime minister, under Section 151 of the Constitution.
This process mandates a post-debate vote, where ministers failing to secure majority parliamentary support will lose their Cabinet posts, with evidence being prepared for a December debate.