Goldman's economists have published their views on industry winners and losers from potential tariff increases, which are expected to hit at midnight tonight, and will target Canada, Mexico and China. Below we excerpt from the full report.
The White House has already announced tariff increases on steel and aluminum and imports from China, and it will raise tariff rates on critical imports and autos from the EU as well. These packages will raise the effective tariff rate by about 4.3%, almost three times as large as the increase during the first trade war in 2018.
