The trade war is already here. Per the latest Fed minutes, American businesses “indicated that plans for capital spending had been scaled back or postponed as a result of uncertainty over trade policy.” https://t.co/OtxmGedu6n

— Ben White (@morningmoneyben) July 5, 2018

One of protectionism’s “unseen” harms: the investments never made. https://t.co/Q9BwtSCxer

— Scott Lincicome (@scottlincicome) July 5, 2018