• Reuters

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President Donald Trump’s trade battles cost the U.S. economy $7.8 billion in lost gross domestic product in 2018, according to a study by a team of economists at leading American universities.

The authors of the new paper said they had analyzed the short-run impact of Trump’s actions and found that imports from targeted countries declined 31.5 percent, while targeted U.S. exports fell by 11 percent. They also found that annual consumer and producer losses from higher costs of imports totaled $68.8 billion.

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