Hey there, #econtwitter. Today in my first-ever tweet I am happy to share my new working paper about the ~Global Trade War~ with Pablo Fajgelbaum, @Penny_WB , and Amit Khandelwal. Paper here, and full thread of charts and takeaways to follow >> econ.ucla.edu/pfajgelbaum/RT… 1/N

First, the basics. In 2018 the US imposed steep tariff increases on more than 12,000 import products, worth ~$300 billion annually.

In response, trade partners retaliated with steep tariff increases on more than 3,000 US export products, worth ~$100 billion annually.