The Rising Influence of Rising Affluence

[DewDiligence]

Tariff factoids:

https://www.wsj.com/articles/most-economists-see-tariff-effects-on-u-s-economy-as-limited-1536847200

Under President Trump, the U.S. has imposed tariffs on about $113 billion of imports, goods that represented about 4% of all U.S. imports in 2017.

Major U.S. trading partners have responded with tariffs on about $70 billion of exports, or about 3% of U.S. exports.

The sum of goods that have had tariffs actually imposed is less than 1% of U.S. gross domestic product.

These numbers could increase, of course.