New Delhi, Feb. 8 -- Potential effects of the tariffs proposed by the Donald Trump administration are overwhelmingly negative, said a report published by a team of S&P Global Ratings' economics team.

The report was titled "Macro Effects Of Proposed U.S. Tariffs Are Negative All-Around."

The potential effects include slower GDP growth, higher unemployment and inflation, and a stronger US dollar. The effects on the US are smaller than for trading partners, S&P Global Ratings.

The Trump administration has moved quickly to propose a new 25 per cent tariff on goods imported from Canada and Mexico, and an additional 10 per cent tariff on goods imported from China.

Last-minute negotiations resulted in a one-month reprieve for both North Amer...