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Will trump roast the turkey well?
Background
A trade war is an economic conflict resulting from extreme protectionism in which states raise or create tariffs or other trade barriers against each other in response to trade barriers created by the other party.
Currently,the White House has imposed a Tariff of 25% on China which has largely affected the currency, investment patterns, exports and manufacturing in various countries.
Turkish lira is one of the biggest victims of the Tit for Tat tariff battle as the market witnessed a dramatic decline against dollar creating economic and financial crisis in the country.. India’s rupee also hit an all time low becoming the worst performing currency in Asia. Major currencies like Hong Kong’s Hang Seng, Japan’s Nikkei, China’s yuan and Korea’s Kospi has also witnessed the blow.
Conclusion
The discourse was worth the while, covering all the possible perspectives within the stipulated time frame. A common opinion held by the panelists was that trade war may not continue for a long period because the US cannot afford a civil war in the turkey and also face the repercussions of it.
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