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more analysis from Bloomberg economists:
*The tariffs will affect trade worth about $1.3 trillion, representing 43% of US imports/5% of US GDP
* It will raise the average US tariff rate from its current level near 3% to 10.7%, and deal a significant supply shock to the economy
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Marika Katanuma
@marikakatanuma
Trump’s tariff is expected to have significant economic impacts on the US and targeted countries.
Bloomberg Economics estimates that a 10% tariff on China could wipe out 40% of its goods exports to the US. That would put 0.9% of China’s GDP at risk. x.com/marikakatanuma…
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