What Are the Knock-On Effects of a 2025 Trade War?

The transcript discusses the potential impact of China's deflation on Europe if it cannot export to the US, leading to excess supply in other markets. It highlights inflation risks in Europe due to economic performance in Germany and France and potential Trump tariffs. The uncertainty of US policies and their global impact is emphasized, with speculation on tariffs and their use as negotiation tools.

What factors could influence the response of other countries to US trade policies?

What is the significance of the phrase 'pen is put on the paper' in the context of trade policies?