The U.S. trade war with China has started to bite America financially. A new study shows the cost at $ 7.8 billion, as tariffs that could rise to as much as $ 250 billion take hold. The number is based on an analysis of import and export numbers.
The study was conducted by the National Bureau of Economic Research. It defined the loss based on retaliatory tariffs. The conclusions were derived from an analysis of imports from targeted countries, which dropped 31.5% among products that carry tariffs while targeted U.S. exports fell 11.0%.
The research concl…
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