RBA's Philip Lowe slams Donald Trump tariffs as 'highly regrettable bad policy'
Business Summit Mar 7 2018 at 9:50 AM Updated 9 mins ago
PHOTO Reserve Bank of Australia governor Philip Lowe addresses the Australian Financial Review Business Summit on Wednesday morning. Louie Douvis
Jacob Greber AFR Woodcut
by Jacob Greber
Reserve Bank of Australia governor Philip Lowe has blasted Donald Trump's tariff plan as "highly regrettable and bad policy" and criticised the president's use of gaping budget deficits to fund company tax cuts.
In a series of hard-hitting remarks, Dr Lowe told The Australian Financial Review Business Summit that the lessons of history are "very clear" in showing that protectionism is "very costly" for the country that implements such barriers.
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