Page 1 - The Impact of the 2018 Trade War on U.S. Prices and Welfare

NBER WORKING PAPER SERIES

THE IMPACT OF THE 2018 TRADE WAR ON U.S. PRICES AND WELFARE

Mary Amiti
Stephen J. Redding
David Weinstein

Working Paper 25672
http://www.nber.org/papers/w25672

NATIONAL BUREAU OF ECONOMIC RESEARCH
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Cambridge, MA 02138
March 2019

We are grateful to Gordon Hanson, Enrico Moretti and Mark Gertler for soliciting this paper for
the Journal of Economic Perspectives. We thank Don Davis and Rob Feenstra for insightful
comments. We thank Noah Kwicklis, Karen Ni, and Angela Wu for excellent research assistance.
The views expressed in this paper are those of the authors and do not necessarily reflect the
position of the Federal Reserve Bank of New York, the Federal Reserve System, the National
Bureau of Economic Research, or any other institution to which the authors are affiliated. Any
errors or omissions are the responsibility of the authors.

NBER working papers are circulated for discussion and comment purposes. They have not been
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© 2019 by Mary Amiti, Stephen J. Redding, and David Weinstein. All rights reserved. Short
sections of text, not to exceed two paragraphs, may be quoted without explicit permission
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