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How is the global economy affected by the current trade wars?
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The current trade wars are having a significant impact on the global economy. Tariffs and other barriers to trade have led to higher prices for consumers, reduced exports and investment, and lower economic growth. These effects have been most pronounced in countries that export a lot of goods to the US, such as China, Mexico, and Canada. In addition, the uncertainty caused by the ongoing trade conflicts has led to slower business investment and weakened consumer confidence.