According to experts, the United States may end up being the biggest loser in the trade war launched by President Donald Trump. This is a warning signal that calls for action to prevent further deterioration.

Speaking at the World Economic Forum, representatives from global institutions, including the World Bank, WTO, and IMF, along with executives from major multinational corporations, voiced concerns that the global economy could worsen in 2025. They warned that the White House’s import tariffs could fuel inflation and depress international trade volumes. Retaliatory tariffs and non-tariff barriers are equally damaging and could seriously harm global commerce.

According to the survey, 53% of respondents believe that the economic fallout from the trade conflict will primarily affect the United States and its trading partners. Another third estimate that the ripple effects will extend even to countries not directly involved in the dispute. Analysts expect slower economic growth for the US, while the euro area is forecast to face further deterioration. As for Europe, growth prospects remain uncertain, with analysts warning of only modest economic expansion. Meanwhile, China is also expected to experience a slowdown due to external pressures hindering internal reform.

The consensus among leading economists is quite pessimistic, as 76% believe Trump's tariff strategy will trigger structural shifts in global trade, including significant supply chain disruptions. Long-term consequences of the trade conflict are equally concerning, they caution.

Notably, US Vice President JD Vance defended the decision to impose import tariffs, arguing that the country’s reliance on foreign supply chains, particularly for essential goods such as pharmaceutical components, poses a national security risk. With foreign governments threatening to cut the US off from such critical products, it constitutes a national emergency, Vance stressed.