In a follow-up to his piece earlier this week on US tariffs, Expert Guest, Chad Bown, explains how the WTO process would work if other countries decide to take their case to the trade body. Remarkably, if the US was trying to target China it may have missed its mark: only 7% of effected products are from the Mainland. At this juncture, we believe that trade issues can lead to a 5-10% if actions increase, but believe the bigger concerns would be a pick-up in inflation or Chinese financial instability. The next event to watch from the Commerce Departments is their findings from the Section 301 investigation that pertains to technology transfer practices. https://piie.com/blogs/trade-investment-policy-watch/trumps-steel-and-aluminum-tariffs-how-wto-retaliation-typically

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