Even the prospect of a trade war could hurt the economic expansion underway. He calculates that a full global trade war, while far less likely, would carry much higher risks, including nearly four million lost American jobs. Advertisement Continue reading the main story“You always hear trade war at these moments,” Mr. Bernstein said. He also took initial steps to reorient trade policy, pulling out of the Trans-Pacific Partnership and embarking on the fractious renegotiation of Nafta. The tariffs that Mr. Trump announced Thursday were his boldest move yet on trade.

Source: New York Times March 03, 2018 00:16 UTC