LIVE MARKETS-U.S. tariffs similar to Brexit (sort of) say BofA

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U.S. TARIFFS SIMILAR TO BREXIT (SORT OF) SAYS BOFA

Is this blog partly so we can have a click bait headline? Yes.

But it's also so we can flag interesting nuggets like this one in a BofA note Friday, observing some similarities between the U.S. trade position and Britain's before it left the EU.

"Although the U.S. is much less dependent than the UK on trade, its total trade share compares with that of the UK exports to the EU, as GDP shares," they write.

Both are hovering around the 10% mark.

"High U.S. tariffs against the rest of the world could be a shock for the U.S. economy that could be compared with Brexit."

The negative shock to British trade from leaving the EU is one reason analysts cite when explaining its sluggish recent economic performance.

"It may even be worse, as the UK share of exports to the EU has not changed much after Brexit," write BOFA

(Alun John)

EARLIER LIVE MARKETS POSTS:

STOCKS STEADY CLICK HERE

EUROPE BEFORE THE BELL: LOWER AGAIN CLICK HERE

MORNING BID: TARIFF CARNAGE RUMBLES ON CLICK HERE