Trump's tariff choices 'ease impact' on China, Russia: Goldman Sachs
Source: The Hill
BY NIV ELIS - 03/06/18 12:09 PM EST
President Trump’s proposal to impose across-the-board tariffs of 25 percent on steel and 10 percent on aluminum would lessen their effects on China and Russia in comparison to more targeted restrictions, according to an analysis from Goldman Sachs.
The Goldman Sachs report said the Trump proposal would hurt Canada, Mexico and the European Union more than China and Russia, which have been criticized by proponents of restrictions on imported steel with flooding the market.
“By imposing across-the-board tariffs to all steel and aluminum imports, the larger economic impact is on Canada, Mexico and the EU, and it ironically eases the economic impact to China and Russia,” a bank analysis released Monday said.
According to the analysis, the choice of broad-based tariffs would create a two-tiered market, because the U.S. does not produce the same kinds of metals it imports. Those imports largely come from U.S. allies such as Canada, Mexico and the EU.
Read more: http://thehill.com/policy/finance/376951-trumps-tariff-choices-ease-impact-on-china-russia-goldman-sachs
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