September 26, 2018
THE HIGH COST OF HATE:
U.S. has most to lose from trade war, China would benefit: ECB (Reuters, 9/26/18)
The ECB study simulates a 10 percent U.S. tariff on all imports and an equivalent retaliation from other countries. It suggests the United States would bear the brunt of diminished trade and of damage to consumer and investor confidence."Estimation results suggest that the United States' net export position would deteriorate substantially," the ECB said in the study. "In this model, U.S. firms also invest less and hire fewer workers, which amplifies the negative effect."
Posted by Orrin Judd at September 26, 2018 4:00 AM