Donald Trump imposing massive US tariffs on Chinese imports could drag down global inflation by lowering the price of goods in other countries, a senior Bank of England policymaker has said.
Swati Dhingra, an external member of the Bank’s rate-setting monetary policy committee, said Trump imposing a threatened 60% tariff on goods from China sold in the US could lead Chinese exporters to cut their prices elsewhere to ensure they maintained current trade volumes.
