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Wall Street is overreacting to the tariff news, Barclays economists say [CNBC]

BARCLAYS (BCS)  More Company Research Source: CNBC
PDF show chapters As long as the Trump administration's steel and aluminum tariffs do not trigger an all-out trade war, the economic impacts will be minimal, according to an analysis by Barclays Research. On their face, the added levies would boost inflation measures by one-tenth of a percentage point while reducing annual GDP growth by one or two tenths, Barclays said in a note that assumes the moves would not have massive repercussions from U.S. trading partners. The administration announced plans to impose 10 percent tariffs on aluminum imports and 25 percent on steel imports . Century Aluminum CEO Michael Bless told CNBC the tariffs would bring back jobs lost to foreign competitors , though economists fear that they will cost industries that use the less expensive imports. Barclays reasons that the effects will be largely contained because steel and aluminum amount to just 2 percent of total imports, and thus won't drive prices appreciably higher [Read more]

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