China trade war cost tops $40 billion in lost US exports

While Trump has focused on the cost to the Chinese economy as a sign of the leverage the tariffs have given him in negotiations the reality is that both the U.S. tariffs and the Chinese retaliation have also hurt the U.S. economy and generated a political backlash. Foto: AP/Alex Edelman

Chinese retaliation against President Donald Trump's tariffs is hitting U.S. exporters harder than their Chinese counterparts and costing the U.S. the equivalent of about $40 billion a year in lost exports, according to a new study that highlights the mounting costs to the U.S. economy of the trade war against China.

U.S. tariffs imposed last year on some $250 billion in imports from China slowed shipments of the targeted products to U.S. shores, according to findings from the Institute of International Finance published earlier this year. Now, a new IIF study of China's retaliation has found that counter-tariffs had a far more severe impact on U.S. exports, leading to a collapse in many of the roughly 900 categories of targeted American products...

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