How Will Biden’s China Policy Impact US Luxury?

Bloomberg also presented a study by Brookings that put the country’s GDP cost in a range between 0.3 and 0.7 percent during 2019. Meanwhile, another study, commissioned by the US-China Business Council (USCBC), highlights how Trump’s trade war has cost up to 245,000 US jobs. And CNN reports that tariffs on “Made in China” goods have cost American importers more than $82 billion so far, according to US Customs and Border Protection.