A stock market ticker shows stock gains and losses for the day

© Embe2006 | Dreamstime.com

Local Expert Calms Fears of Trade War

June 07, 2018 - 9:31 am

ST. LOUIS (KMOX) - A local economist is working to calm fears about a looming trade war in the wake of new Mexican tariffs on US products.

Dr. Benjamin Akande is economist and senior advisor to the chancellor at Washington University.

He says there's little doubt that President Trump's strong stand and new tariffs on steel and aluminum will have a major impact on relations with our trading allies.

“It’s created a shock effect that the president is serious about trying to readjust the current system,” he says.

He says there is no change without some pain.

“Clearly there will be pain,” he says. “But that pain is going to be short term.”