February 14, 2017 / 5:09 PM / 6 months ago

Big retreat from trade could hurt U.S. growth - Fed official

Federal Reserve Bank of Richmond President Jeffrey Lacker testifies before the House Financial Services Committee hearing on "Examining How the Dodd-Frank Act Could Result in More Taxpayer-Funded Bailouts" on Capitol Hill in Washington June 26, 2013.Yuri Gripas/File Photo

NEWARK, Del. (Reuters) - A big U.S. retreat by Donald Trump's White House from low international trade barriers could significantly hurt U.S. economic growth, Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, said on Tuesday.

"A quantitatively significant retreat from lower trade tariffs and barriers has the potential to be a significant impediment to growth," Lacker, who will retire from the U.S. central bank in September, told reporters.

Reporting by Jonathan Spicer; Editing by Meredith Mazzilli

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