The financial mercury is soaring, stock markets are in a panic, multinationals are on edge, and "The Gambler," the new nickname given to Donald Trump, stands firm in his boots. Betting big pays off big—that seems to be the motto of the man of the moment, who doesn’t hesitate to defy the entire world. The deal to ease tariff fever is "simple": "Countries must pay a lot of money to lift customs duties." That’s it! The MAGA (Make America Great Again) campaign slogan of President Trump inevitably involves emptying everyone else’s pockets. Friends and foes alike, no one is spared. For the occupant of the White House, "Business is Business." Even if it means plunging global markets into chaos, the confidence displayed by the 47th President of the United States is matched only by the well-founded fears of a worldwide recession. Europe is struggling to find a coordinated response, Asians are trying to negotiate a deal, while emerging countries and Africa bear the full brunt of the shockwave. Africa, one of the main suppliers of raw materials, is witnessing a sharp drop in oil prices and an alarming early decline in investments. In short, rising prices, weaker demand, and a global financial crisis are no longer mere possibilities to dread. The key indicators are already here, poking their noses out. Across the Atlantic, the situation is far from rosy. Banks are beginning to sound the alarm. Goldman Sachs has raised the likelihood of a U.S. recession within the next 12 months to 45%, aligning with revisions made by other banks. According to experts, contractions in the U.S. economy are already estimated at 0.3%. And the worst is yet to come. Haunted by China’s retaliation, Donald Trump charges ahead recklessly, listening to no one. While downplaying the losses that have wiped out trillions of dollars from global stock markets, he is determined to "extort" everyone. "There will be no discussion unless they pay us a lot of money every year." The verdict is in.
El Moudjahid
