Trade Cases
March 19, 2019
IHS Report Highlights Damage from U.S. Tariffs
Written by Sandy Williams
U.S. tariffs on imports of steel, aluminum and Chinese goods have “an unmistakable negative impact” on the economy, says a new report from IHS Markit.
The report, “The Economic and Industry Impact of Protectionism Tariffs on the Off-highway Equipment Sector,” estimates that Section 232 and Section 301 tariffs will result in an average GDP loss of $29 billion per year for the next 10 years, mainly from the direct effect of higher prices.
