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Peterson Institute: Trump’s trade policies would be terribly destructive for the U.S.

By Laurie Bennett

September 20, 2016 at 10:34am

In a new study, the Peterson Institute says Donald Trump’s proposals on trade “could unleash a trade war that would plunge the US economy into recession and cost more than 4 million private sector American jobs.”

If a Trump administration were to raise tariffs on China, Mexico and other trading partners, the report predicts, the most severe effects would be felt in export-dependent industries such as technology and aerospace. But the impact would reverberate, reaching sectors such as retail and service jobs, the authors project.

The report is important not only because of its dire predictions, but because of who’s talking: Peter G. Peterson, founder of the institute, was a bundler for John McCain, Commerce secretary under President Nixon, and chairman of the Federal Reserve Bank of NY.

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