This via chief economist at KPMG in the US, Diane Swonk:
- a Federal Reserve study showed that Trump’s 2018–2019 steel tariffs raised input costs so sharply that any jobs protected in the steel sector were outweighed by broader manufacturing job losses
- Swonk warned that the impact could be even more severe this time around
- “Now double steel tariffs and combine them with more tariffs.”
This article was written by Eamonn Sheridan at www.forexlive.com.