US businesses and consumers could be the ‘prisoners’ of Trump’s trade fight with China

donald trump hatGetty Images/Pool

A trade war has been brewing between the US and China.
The White House has said the US would have an edge over China in a trade war.
But economists think China has more room to negotiate. 

The White House has asserted the US has the whip hand in a tariff fight between the world’s largest economies — with a senior economic adviser saying “it’s clear China has much more to lose” and the president himself declaring  that “trade wars are easy to win” — but economists widely disagree.

The Trump administration vowed last week to slap a 25% tariff on $50 billion worth of Chinese goods, prompting a tit-for-tat response from Beijing. Trump went on to threaten additional rounds of tariffs that could affect $400 billion worth of products, an amount approaching the $505 billion of goods that Chinese ships to the US.See the rest of the story at Business Insider

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SEE ALSO: There’s confusion over whether the Trump administration secretly promised Apple that iPhones wouldn’t be caught in the cross fire of a trade war with China

Original Article : HERE ; This post was curated & posted using : RealSpecific

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