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US withdrawal from the Iran deal could seriously escalate the developing trade war

Attention has rightly focused on risk of actual war, but the harmful economic consequences of Trump’s action should not be overlooked

By Duncan Weldon  

(180510) -- BEIJING, May 10, 2018 (Xinhua) -- U.S. President Donald Trump signs a memorandum declaring his intention to withdraw from Iranian nuke deal at the White House in Washington D.C., the U.S., on May 8, 2018. (Xinhua/Ting Shen). Photo: Ting Shen/Xinhua News Agency/PA Images

The United States’s unilateral withdrawal from the Iran deal is a geopolitical disaster for the Middle East. But whilst most attention has, rightly and understandably, been focused on the potential for the deal’s unravelling to lead to actual war it also has the potential to seriously escalate the developing trade war. Indeed, from a strictly economic point of view, the timing looks catastrophic.

Back in March the Trump administration…

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