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Philip Lowe, governor of the Reserve Bank of Australia (RBA), speaks at the Australian Financial Review Business Summit in Sydney, Australia, on Wednesday, March 7, 2018. Lowe slammed President Donald Trump's tariffs proposal, warning escalation and retaliation could develop into a "very big shock for the global economy." Photographer: Brendon Thorne/Bloomberg via Getty Images

Philip Lowe, governor of the Reserve Bank of Australia (RBA), speaks at the Australian Financial Review Business Summit in Sydney, Australia, on Wednesday, March 7, 2018. Lowe slammed President Donald Trump's tariffs proposal, warning escalation and retaliation could develop into a "very big shock for the global economy." Photographer: Brendon Thorne/Bloomberg via Getty Images