Trump's Tariffs Trigger Global Economic Shifts: Impact on Trade and Inflation

President Trump's tariff policies are creating ripple effects across the global economy. Tariffs on exports could affect products like olive oil and wines. The United States is a primary export market for Spanish food and beverages, with sales totaling €3.5 billion, a third of which is olive oil. Increased inflation may lead to restrictive monetary policies by the Federal Reserve, impacting the Gross Domestic Product. Stock markets are reacting negatively, affecting consumer savings and pensions. The dollar's weakening, coupled with the euro's rise, influences the oil market, increasing dollar-denominated prices. China and Europe have implemented retaliatory measures, targeting products including pork, chicken, cereals, and soybeans. In 2024, China was the top market for Spanish pork exports, exceeding €1.066 billion, though down 10% from the previous year. These trade tensions are expected to negatively impact global growth, particularly in Europe. Higher food prices for South American livestock could increase import costs. The tariff war and uncertainty could negatively impact global growth and the Eurozone, especially Germany.