WASHINGTON: U.S. President Donald Trump on Wednesday said he was"the chosen one" to address trade imbalances with China, even as congressional researchers warned that his tariffs would reduce U.S. economic output by 0.3per cent in 2020.
The nonpartisan Congressional Budget Office on Wednesday became the latest independent institution to warn about the consequences of tariffs Trump has ordered imposed against China and a host of other countries. Trump on Tuesday told reporters he had to confront China over trade even if it caused short-term harm to the U.S. economy because Beijing had been cheating Washington for decades.
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