CBO Warns of Negative Impact on GDP and Prices if Trump’s Tariff Policy Continues

Tariff increases and other trade barriers imposed in 2018 by the Trump administration could lower real U.S. gross domestic product (GDP) 0.1 percent through 2029 and result in price increases on consumer goods, according to a new report from the Congressional Budget Office (CBO). The CBO said changes to trade policy, such as the recent…