Persistent Trump tariffs mean a minus 5% hit to Canada’s economy, Mexico -8%, US -1%

Analysts at US-based investment bank Piper Sandler with the estimated negative hits to economies over a year of Trump’s tariffs:

• Canada economic growth (GDP) sees a minus 5% hit
• Mexico’s GDP a minus 8%
• US economy a minus 1%

Senior Republican Senator Mitch McConnell spoke with US TV show ’60 Minutes’:

• says he objects to tariffs pushed by Trump
• “It’ll be
  paid for by American consumers. I mean why would you want to get in a
  fight with your allies over this?”

The art of the deal is a win-win. There are no winners here.

This article was written by Eamonn Sheridan at www.forexlive.com.