On May 30, President Trump tweeted:Twitter.com @realDonaldTrumpThe U.S. imports $345 billion from Mexico and exports $245 billion to Mexico. Each 5% tariff increase adds about $3 per barrel to the cost of oil. Skip across the pond to China, which may be the playbook on how well trade negotiations and tariffs proceed. The current tariff imposition in China has, according to the Tax Foundation model, a 0.2% decrease in U.S. GDP. The NY Fed’s model estimates 1.5%, slightly upward.

Source: Forbes June 06, 2019 10:52 UTC