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.”
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Source: Forex Live