ECONOMY/FOREIGN POLICY/TARIFFS/TRADE DEALS/TRUMP AS PRESIDENT: “Economists estimate President Donald Trump’s steel and aluminum tariffs will reduce U.S. employment only modestly, but increasingly worry that foreign-trade disputes could escalate and damage the U.S. economy.
Forecasters surveyed in recent days by The Wall Street Journal continue to expect solid economic growth this year, but see rising odds that growth will come in below expectations. Just over half said risks were tilted to the downside, jumping from 30% in February and the highest share since September. Even generally optimistic economists cited trade policy or protectionism as risks to the outlook… Most forecasters said the 25% tariff on imported steel and 10% tariff on imported aluminum that Mr. Trump unveiled last week would reduce overall employment in the U.S., as gains in the domestic steel and aluminum industries would be outweighed by losses in sectors that purchase those metals.”
-Ben Leubsdorf, “Economists Worry a Trade War Could Derail U.S. Growth,” The Wall Street Journal online, Mar. 15, 2018 10:27am