Quote of the Day: U.S. Consumers, Employers and Investors will be the ultimate payers of a border tax...

We all know (right?) that if we go the way of a "border tax" the U.S. consumer will pay the price, via higher prices. And the small domestically-driven employer will pay the price, via lower revenues (as its customers have less to spend). The U.S. investor stands to pay a dear price as well:

Overall, U.S. equities have more to lose than their Chinese counterparts in a trade war, at least in the view of Morgan Stanley’s Garner. While almost 10 percent of companies in the MSCI U.S. index derive at least a tenth of their sales from China, less than 2 percent of firms in China can say the same about the U.S., according to Morgan Stanley.