Doing nothing is ‘least costly’ response to US tariffs – BoF blog
Costs will be borne by American firms and households, Bank of Finland analysis shows
Trade partners of the US would be best served by not responding in kind to any tariffs imposed by president-elect Donald Trump’s incoming administration, according to a senior economist at the Bank of Finland (BoF).
In a blogpost published yesterday (November 11), Sanna Kurronen recalls a paper from the Peterson Institute for International Economics, published in September. This showed how, between now and 2028, a blanket 10% tariff on imports imposed by the US would cumulatively reduce Germany’s
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