World Daily

Trump launched a trade war in China and claimed that the United States had won, but economic experts said that so far, the US economy is a loser.

The two research reports released last weekend unanimously pointed out that Trump's tariff war was the worst trade experiment in the 1930s. The initial cost was to increase the burden of billions of dollars in the US economy, which is mainly borne by American consumers.

Federal Bank's New York Branch, Princeton, and Columbia University Economists said in a report released on the 2nd that Trump's increase in tariffs on $ 250 billion in Chinese products, such as washing machines and steel products last year, increased American companies and consumers every month.With a burden of $ 3 billion, the company also suffered an additional $ 1.4 billion Deadweight Losses.

Because American companies have re -constructed the supply chain, they have also paid a lot of costs to guide $ 165 billion in trade capacity to other countries.

The report emphasizes that these costs are borne by American consumers and corporates, rather than Trump's expenses that China pays tariffs.

David Weinstein, an economist who participated in the research report, said that this is the worst situation for consumers, and it is quite unclear whether the trade war has a sharp or empty US economy.

He and the other two economists are also studying the impact on the economy due to the delay in investment caused by the trade war.

Another report released on the 3rd is estimated to be higher: imports caused a loss of US $ 68.8 billion a year, accounting for 0.4%of national production of hair.However, the losses in this regard were disappeared by American manufacturers who were profitable from it.The two phases were deductible, and the US economic loss dropped to $ 6.4 billion, or 0.03%of GDP (GDP).

The second report writer includes Pinelopi Goldberg, chief economist of the World Bank.He used to be the editor -in -chief of the American Economic Review Journal.

Gaodebo and two other economists further discovered that the main victims of the Trump trade war were actually farmers and blue -collar workers who supported him in 2016 because of high proportion of retaliated tariffs for agriculture.

In addition, the report proposed by the Institute of International Finance last week, it is estimated that China's retaliatory tariffs will cause US $ 40 billion in export losses to US exports.