The chief economist of Wall Street investment bank Goldman Sachs expects incoming US president Donald Trump’s trade tariffs will be smaller than threatened and will avoid a major trade war that would disrupt the global economy.
Speaking from New York, Jan Hatzius said Goldman’s economics team was assuming Trump would increase the effective tariff rate on Chinese goods by an average of 20 percentage points, below the 60 per cent tariff he campaigned on.
Loading...
John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
