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Trump tariffs would shave at least 1.2% off German GDP by 2028, IW study shows

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Germany’s economy would contract by at least 1.2% by 2028 should former U.S. President Donald Trump regain office and hike import tariffs as much as he has proposed, the German Economic Institute (IW) argued in a paper on Monday. The IW, which is financed by prominent German business associations and carries weight among Berlin policymakers, published the paper a day ahead of “Super Tuesday”, the day in the U.S. presidential primary cycle when the most states vote. The front-runner for the Republican presidential nomination has proposed slapping a 10% tariff on all imports and hiking those on Chinese imports by 40 percentage points to 60% were he to defeat President Joe Biden in the Nov. 5 U.S. election.

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