Evidence Grows That Trump’s Trade Wars Are Hitting U.S. Economy
There is more and more evidence pointing that Trump’s Trade Wars is hitting the economy of the United States. Being that according to authoritarian studies has been exposed a significant net loss for the United States from the rates. Likewise, both consumers and companies incur the cost of import duties.
For his part, the president of the United States, Donald Trump, declares regularly that he is winning his trade wars. Despite this, based on the concrete evidence that has been presented, it seems that the United States and its economy are established as a big loser.
American economy in decline
It is necessary to highlight that the studies are the most authorized so far to document the negative effect of Trump tariffs on the economy of the United States. Do not forget that a good part of them have exposed the negative consequences. Likewise, last week, economists at the Institute of International Finance calculated that Chinese retaliation tariffs caused around $ 40 billion a year in lost exports from the United States.
In addition to this, it could be mentioned that in the same way it is estimated that the official commercial data that will be released on Wednesday also show the United States trade deficit in goods with the world. In this way, it would reach a new record in 2018 due to the combination of an increase in imports to preempt the new tariffs last year and the slowdown in exports.
Source: Shawn Donnan | Bloomberg