Trade, Trump & the Fed

The Gross National Product (GDP) of the USA is about $20 trillion. So far retaliatory tariffs from China are about 25% on $50 billion in goods and 10% on $200 billion in goods. That equates to about $32.5 billion – which is a whopping 0.16% of $20 trillion – infinitesimally small really, if you think about it.