Even short of extremes, Trump protectionism damaging: economists

US president-elect Donald Trump has said he will label China a currency manipulator, and has threatened to pull out of NAFTA and slap punitive tariffs on China and MexicoWhile his advisors have played down some of President-elect Donald Trump’s most extreme trade threats as negotiating tactics, economists remain worried about the potential to inflict real damage. The Republican billionaire has said that on his first day he will label China a currency manipulator, has threatened to pull out of free trade agreements like NAFTA and slap punitive tariffs of up to 45 percent on China and Mexico. In a campaign season drenched in hyperbolic rhetoric, those protectionist threats have pushed economists to issue truly apocalyptic projections, warning of job losses of four million or more, and a deep and damaging recession in 2018, with negative spillovers to the global economy.

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