How will the trade war impact the US economy?

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Via Westpac today:

Expectations for business investment through late-2017 and 2018 have been abnormally strong on the back of fiscal reform. Currently they sit at or above the level seen in the post-GFC recovery and, before that, the heady days of pre-crisis expansion.

These expectations have subsequently been franked by the activity data, with the annualised quarterly growth pace of investment over the 12 months to March 2018 (6.8%) less than a percentage point below the average of 2010–2012 (7.6%).

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.