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 accounting for higher tariff revenue and gains ...
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