London CNN —
The saying goes that when America sneezes the rest of the world catches a cold — pithy shorthand to describe how changes in the world’s biggest economy ripple out to impact everyone else.
But that adage doesn’t go nearly far enough to convey the enormity of the likely fallout from US President Donald Trump’s decision to impose a colossal set of new tariffs on America’s trading partners.
“The US isn’t sneezing, the US is hacking off one of its limbs,” Paul Donovan, chief economist at UBS Global Wealth Management, told CNN.
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