In the modelling results the impact of the escalated

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In the modelling results, the impact of the escalated trade war on the rest of the world continues to be contained. After four years Australia’s GDP is almost 0.5% lower than it would have been in the absence of the trade war. Beyond year 4, the GDP losses for Australia are slightly less, with the present value of Australia’s real GDP losses over the next decade estimated at A$58 billion. The EU’s loss of GDP peaks at 0.37% after four years. World GDP is about 0.6% lower after four years, recovering to be just over 0.2% lower after 10 years.
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