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flag US trade war models show potential decrease of NZ$163 in New Zealand household income annually.

flag New modelling shows a potential trade war triggered by the US could slightly decrease New Zealand's household income by NZ$163 per household annually. flag The scenario involves the US imposing 25% tariffs on all imports, leading to similar retaliatory tariffs. flag Globally, the trade war would decrease aggregate household income by 0.7%, with larger impacts in the US, Canada, and Mexico. flag The modelling confirms that trade wars harm global economic activity.

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