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Trade War Expected To Fall Flat

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News video: Trade War Expected To Fall FlatDonald TrumpDonald Trump

Business Insider reports President Donald Trump identified the reduction of the US trade deficit as one of the key goals for the recent tariffs imposed by the US.

According to research by economists at the New York Federal Reserve, however, it is unlikely that Trump's tariffs will lead to a reduction of the trade deficit.

The New York Fed economists identified two reasons that the deficit will not decline: increased costs will reduce the output of domestic exporters and retaliatory tariffs will reduce foreign appetite for US goods.

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