- 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.
For further details see:
The Tectonic Shift In Global Trade