April 18, 2018 / 8:32 PM / 5 months 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: Shipping containers being loaded onto Xin Da Yang Zhou ship from Shanghai, China at Pier J at the Port of Long Beach in Long Beach, California, U.S., April 4, 2018. REUTERS/Bob Riha Jr.

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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