Sawiris said in a tweet via his account on the “X” platform, (previously Twitter), that the world is on its way to a depression, and that the US Federal Reserve should intervene.
Sawiris said that the global economy is officially
entering a depression. The Federal Reserve must intervene, and President Trump
must back down from his trade war.
It is worth noting that last month, Trump issued violent decisions to impose large customs duties on a large number of countries in the world, most notably China, which responded by imposing similar sanctions, which led to additional retaliatory customs duties between the two sides, amid international warnings of the negative effects of this trade war on the global economy.