Perhaps you have missed the point. It is common knowledge that historically; currency fluctuation as a percentage, far exceeds any measure of tariffs. Say the US puts a 10% tariff on Austalian steel exports for a few years, well that is significant, but how much has the AUD fallen relative to the USD over the last few years. "A drop in the ocean" was supposed to be taken in a metaphorical sense.
I am sure most academics would agree with me on this point.
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23 | 106643 | 4.600 |
15 | 94244 | 4.590 |
11 | 55857 | 4.580 |
10 | 133535 | 4.570 |
Price($) | Vol. | No. |
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4.620 | 37521 | 20 |
4.630 | 57909 | 26 |
4.640 | 125985 | 19 |
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