By Reuters | WASHINGTON |
President Donald Trump's trade battles cost the U.S. economy $7.8 billion in lost gross domestic product in 2018, a study by a team of economists at leading American universities published this week showed.
Authors of the paper said they analysed the short-run impact of Trump's actions and found that imports from targeted countries declined 31.
5 percent while targeted U.S. exports fell by 11 percent. They also found that annual consumer and producer losses from higher costs of imports totalled $68.8 billion. "After.....
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