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Several economic studies have shown that the recent trade war has done more harm than good to American manufacturing, actually reducing employment in that sector.
It has also depressed US investment, which in turn weighs on economic growth.
American businesses and consumers paid around $46 billion from 2018 to 2019 due to tariffs on Chinese imports — virtually none was paid by China.
Trade wars appear set to continue for years to come, whoever wins the White House for the next presidential term.
This will undoubtedly have a dampening effect on economic growth going forward.