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Trump Trade War May Cost World GDP $470 Billion by 2020: Chart

What happens to global growth if there’s a trade war? Based on Bloomberg Economics’ estimates, if the U.S. raises import costs by 10 percent and the rest of the world retaliates, raising tariffs on U.S. exports, the cost by 2020 would be 0.5 percent of global GDP. To put that into perspective, that’s about $470 billion -- roughly the size of Thailand’s output.