U.S. Exporters Will Be a Surprise Loser From Tariff Fight

U.S. Exporters Will Be a Surprise Loser From Tariff Fight

U.S. exports grew relatively strongly in the spring, in part due to soybeans, but that increase may have been temporary, as foreign buyers rushed to beat the imposition of Chinese tariffs on soybeans. When northern states succeeded in raising tariffs to protect their manufacturers, they angered southern states who paid more for manufactured goods and suffered falling prices for their exports such as cotton and tobacco. Data shows that while exports and imports have varied between 3% and 25% of gross domestic product since 1790, the two tend to move together.

 

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