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US Trade Wars Will Hit Households Worldwide, BOE’s Bailey Warns
US President Donald Trump ’s trade war with the rest of the world is the wrong approach to addressing imbalances in the global economy and will harm households, Bank of England Governor Andrew Bailey said. In his annual Mansion House speech, Bailey called for greater cooperation between countries — particularly the US and China - to resolve “unsustainable” trade and financial imbalances that are distorting economies and lie behind escalating political tensions.
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