According to Donald Trump, “trade wars are easy to win.” However, as usual, reality appears to contradict Trump’s claims. In the current dispute between the U.S. and China, it doesn’t look like a winner will emerge any time soon. As CNN notes:
The Trump administration made good on its threat to raise tariffs on $200 billion worth of Chinese exports from 10% to 25%, marking a sharp rise in tensions between the world’s two largest economies. After months of talks aimed at ending a year-long dispute that has already hurt global growth and rattled stock markets around the world, the latest US salvo risks triggering a new wave of tit-for-tat responses.
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