Currently, there is a very interesting trade war going between the US and China. This trade war has been continuing on from months in fact and it is coming to a conclusion soon as talks between the US and China have started. However, we are also seeing how the trade war between the US and China has impacted not just the two countries but the global economy in general.
There has been a lot of talk about when this trade war will end and what is the trade war continues even longer. Now, not just the Chinese economy but the US economy has also taken a huge hit because of the trade war. However, US President Donald Trump has indicated that his side will not back down in negotiations. Some analysts are also suggesting that if the trade war continues, President Trump’s next term in office could be in danger.
Now, a new voice has been raised citing concerns that the US-China trade war has been far worse then what everyone expected. At first, the trade war between the US and China was seen as China’s loss. But as it turns out, both the countries have been greatly impacted as a result.
Doug Barry, Senior Director of communications and publications for the US-China Business Council, now says in a report by Yahoo Finance: “Remember, we were told that the trade wars are easy to win,” “That was just as they were beginning a year ago. We found that not to be true, they’re not easy to win.”.
He also said that “not only aren’t they easy to win, but the unintended costs of a trade war are far more significant than most Americans ever realized. That’s the wake-up call — when you start engaging in this kind of conflict, there doesn’t seem to be a bottom to it.”