Fed's Dudley: Trade barriers impede focus on comparative advantage

Fed's Dudley is speaking in Puerto Rico

Although his comments are focused on Puerto Rico:

• he expects construction bounce Puerto Rico
• Puerto Rico need sustainable fiscal plan

He did comment briefly on the trade barriers by saying

• Trade barriers impede focus on comparative advantage

Earlier, Atlanta Fed's Bostic said that trade barriers would be broadly unhelpful. Mnuchin said that the US could carve out exemptions but there will be tariffs on steel and aluminum.