A year into the trade war, there is a growing realization that President Trump's tariff regime may become permanent. | via ChristineRomans
The Organization for Economic Cooperation and Development warns an escalation would hurt the US economy and damage the rest of the world, shaving 0.7% from global growth by the year 2021. That's roughly $600 billion. The OECD sees the potential for new trade barriers between the United States and the European Union and Brexit-related uncertainties, as well.In an analyst note, Morgan Stanley finds the window for resolving the trade dispute is narrowing.
"Read MoreAmerica's top retailers are already bracing for that impact. Kohl's , Home Depot and Walmart have said tariffs will lead to higher prices on some items. The Footwear Distributors and Retailers of America, a trade association, said an escalation in tariffs on shoes would be"catastrophic." Roughly 72% of all footwear sold in the US in 2017 was made in China, according to another industry trade group.
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