Why the US would never win a trade war with China [CNNMoney.com]
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Source: CNNMoney.com
Why the US would never win a trade war with China Kristina Hooper is chief global market strategist at Invesco. The opinions expressed in this commentary are her own. Over the last several decades, lower tariffs and relaxed trade barriers strengthened global supply chains and fueled a major increase in global trade. In fact, the average rate of tariffs on imports by Trade Organization We are now moving backward. In its efforts to achieve what it believes to be fair trade, the United States has started trade disputes with several different economies. Its conflict with China is by far the most intense, resulting in a series of additional tariffs. Some people believe that because America is the net buyer and China is the net seller in their trade relationship, China will lose the trade war and ultimately surrender. I believe that's wrong. Tariffs will hurt both countries. Many tariffed products can't easily be substituted, so they will continue to be purchased — just at higher prices. W
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