An ag economics professor with Purdue University says the US and China will both lose in a trade war.
Wally Tyner says Brazil would gain the most if tariffs are implemented as planned on July 6.
“Our estimate is that the US and China each lose $2.6 billion a year because of these tariffs and Brazil gains $2.2 billion a year,” he says. “That’s why I say lose-lose for the US and China and win for Brazil
Trump has threatened to impose additional trade tariffs on $200 billion worth of Chinese goods, after China retaliated against Trump’s $50 billion in tariffs announced Friday.
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