Rules of Thump - the China, Canada & Mexico Factor - Reminder

As a P.S. to the Rules of Thump - the Canadian, Chinese and Mexican Tariffs.

My rough calculations of the Tariff hit to economies outside the US were included in the Friday (1/31) Update sent to you.

But to summarise: The effect of these (1/31 Canadian, China & Mexican Tariffs) is a recession in Mexico and Canada. The pain for China is a hit to growth of about 0.4%. But if the Tariffs are hiked to 20%, then the hits is over 1.2% of GDP. This bears out the fact that the incremental effect of tariffs rises exponentially as tariffs increase..

best,