25% tariffs on Canada & Mexico would cause lower GDP & higher inflation than otherwise in all three countries, including the US—& the damage would be even worse if Canada & Mexico retaliate.
Learn more: piie.com/blogs/realtime…
Peterson Institute
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Peterson Institute
@PIIE
The Peterson Institute for International Economics is a nonpartisan, independent research institution devoted to studying international economic policy.
- #ICYMI: Trump's trade war has dragged on for a while now. We've tracked all the developments in our Trade War Timeline. piie.com/blogs/trade-in…
- There's been a lot going on in the trade war with China. We've been tracking all the drama with our Trade War Timeline: piie.com/blogs/trade-in…
- 1/ We want to respond to @SecretaryRoss interview about steel and aluminum tariffs with @ErinBurnett on @CNN and to some claims he made about us @PIIE.
00:00 - 25% tariffs on Mexico & Canada + the 10% tariffs that are already in effect on China, could cost the typical American household more than $1,200 per year—& this analysis doesn't include the additional 10% on China recently announced. #PIIECharts More: piie.com/research/piie-…
- Trump HAS gotten China to lower its tariffs...on everyone else. China has increased tariffs on US exports to an average 20.7%. But China has also *reduced* tariffs on competing products imported from everyone else to an average of only 6.7%. piie.com/blogs/trade-in…
- “This is going to be much bigger than Smoot-Hawley,” @D_A_Irwin says. “Imports are a much greater share of GDP now than they were back in the early 1930s by a long shot.” Imports of goods & services are 14% of US GDP — ~3x the share they were in 1930.
- reminder that the experts learned about the new tariff rates the same time you did. pls be nice to us, we are analyzing as fast as we can
- NEW: Former President Trump recently mused that he might impose even higher tariffs than earlier proposed. A 20% across-the-board tariff + 60% tariff on China would cost a typical US household more than $2,600 a year, up from the $1,700 if it was 10%. #PIIECharts
- |￣￣￣￣￣￣￣￣￣￣￣| | Breathe, check facts | | before sharing info, & | | care of yourself | |＿___＿＿＿＿＿＿＿＿| \ (•◡•) / \ / --- | |
- Here are the imports from Mexico & Canada that will be hit the hardest by the 25% tariffs... From Mexico: transport equipment, fruits & vegetables, electronics, & machinery From Canada: wood products, metals, fuels, food products, & transport equipment #PIIECharts
- the economist urge to ask a question that's more of a comment
- Since the enactment of the CHIPS Act, the US has been on track to add more construction for computer & electronics manufacturing in 2024 alone than it did during the 20 years before the Act. #PIIECharts Learn more: piie.com/research/piie-…
- US special protection covers 50.6% of all US imports from China. If Trump follows through on his latest threat of 25% tariffs on $300 billion of imports, US special protection will cover *96.7%* of US imports from China. By @ChadBown & @EvaYZhang: piie.com/blogs/trade-in…
