Saturday, 25 May 2019, 07:15:16 am
Trump’s trade war cost US economy $7.8 bln loss in 2018
March 16, 2019

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President Donald Trump’s trade battles cost the United States economy 7.8 billion dollars loss in gross domestic product during the last year.     

According to a study by a team of economists at leading American universities, imports from targeted countries declined 31.5 percent while targeted U.S. exports fell by 11 percent.

The study also found that annual consumer and producer losses from higher costs of imports totaled 68.8 billion dollars.