06-01-2020, 10:05 AM
Quote:How do you make$1.7 trillion disappear? A trade war is one way, a new report has found. A study by the Federal Reserve Bank of New York adds to previous findings that, despite pronouncements from the White House, Americans are paying — and paying stiffly — for the U.S.-China trade war..The billions in tariffs hurled back and forth between Washington and Beijing have reduced the market value of U.S.-listed companies by $1.7 trillion during the course of the 2-year-old tax offensive. The conflict will continue to weaken the investment growth rate for these businesses up to two percentage points by year’s end, the study said. Trade-war collateral damage: destruction of $1.7 trillion in U.S. companies’ market value - MarketWatch