CANBERRA, April 10 (Xinhua) -- America will be the biggest loser in Trump's tariff war, despite the Australian dollar and shares falling, according to an analysis carried by the Australian Broadcasting Corporation (ABC).

U.S. President Donald Trump declared that America was about to enter a "golden age" at his inauguration three months ago. "His much-heralded golden age, however, is about to tip the U.S. into recession," said the analysis on Tuesday.

"The ham-fisted, amateur-hour antics of the Trump administration have sent the globe down a dangerous path," the article said.

"It took almost 80 years to build the global trading network Trump thinks is 'ripping America off.' Can it be torn down in six weeks? Not without serious consequences which may include the ultimate demise of the American empire," it said.

While there is no country or currency to immediately replace the U.S. dollar as the world's reserve currency, "Trump has damaged his country's standing and its reputation," it added.

"It may be the world's largest economy, the global military superpower. But America is beset with problems," the ABC analysis said, adding more than half a century of trickle-down economics and laissez-faire policies have left it with extreme wealth and income imbalances, declining living standards and a rising death rate.

The United States "runs massive financial imbalances at home and abroad via budget and trade deficits," it said, adding "Trump didn't create those problems. But not only did he fail to address them in his first term, he's masterfully used them to whip up internal dissent for political gain."

Now Trump has shifted focus overseas, where his obsession with trade imbalances being a "rip-off" is "at best naive and at worst dangerous," ABC said. Enditem

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