White House analysis says Trump’s tariffs will hurt US economic growth: NYT

Andrew Harrer | Bloomberg | Getty Images

President Donald Trump speaks before signing a presidential memorandum targeting China’s economic aggression in the Diplomatic Room of the White House in Washington, D.C., U.S., on Thursday, March 22, 2018.

The White House Council of Economic Advisors has concluded that President Donald Trump’s tariffs will hurt economic growth in the United States, according to The New York Times, citing several people familiar with the research.

The findings of the analysis, which have been circulated internally and are not yet publicly available, contradict Trump administration officials who claim that the president’s approach to trade would be “massively good for the U.S. economy.”

Most recently, the administration has hit Canada, Mexico, Japan and the European Union with aluminum and steel tariffs as well as threatened tariffs on Chinese goods.

Several US trading partners have responded with their own tariffs, including close allies such as Canada and Mexico. The European Union is also preparing retaliatory measures.

Be the first to comment

Leave a Reply

Your email address will not be published.