A recent report by the Federal Reserve Bank of New York has raised concerns that US President Donald Trump's latest tariffs on Chinese imports could have a more significant impact on the US economy than official US trade data suggests.
Published on Wednesday, the study highlighted gaps in official trade data and warned that the true effects of these tariffs on American consumers might have been underestimated. 📉 This means that the cost of imported goods could rise even more, potentially affecting everyday purchases and overall economic growth.
Reference(s):
Study: Tariffs on China risk hurting US economy more than data suggest
cgtn.com
