April 19, 2018 / 12:09 AM / a month ago

Possible trade war 'not winnable' for U.S. - Fed's Dudley

NEW YORK (Reuters) - The Federal Reserve is “very much focused” on possible threats to U.S.-China trade that could hurt the U.S. economic outlook, New York Fed President William Dudley said on Wednesday, adding a trade war “is not a winnable proposition.”

FILE PHOTO: William C. Dudley, President of the Federal Reserve Bank of New York, attends a conference about trade and globalization at the central bank of Brazil headquarters in Sao Paulo, Brazil, March 1, 2018. REUTERS/Nacho Doce/File Photo

The Trump administration is pursuing potential tariffs, negotiations and other restrictions to try and cut a massive trade deficit with China. “A tariff war would be a terrible, terrible outcome,” Dudley said when asked at Lehman College. “I would not look at trade wars as something that we can win.”

Reporting by Jonathan Spicer; editing by Diane Craft

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