Goldman Economists See Limited US Tariff Hit to European Growth

Trump said on Saturday he would impose the levies on European countries that have rallied to support Greenland in the face of US threats to seize the semi-autonomous Danish territory. The Goldman team estimates that a 10% duty would lower real GDP by 0.1% to 0.2% across the affected countries via reduced trade. “The hit could be larger should there be adverse confidence or financial market effects,” the team including Sven Jari Stehn wrote in a note.