Economics

Trade War Winner Is Who Loses Least as U.S. Duties Loom

U.S. set to impose first levies on Chinese goods this week
China promises to retaliate, which could trigger tit-for-tat

Asia-Analytica’s Pauline Loong talks about the trade dispute between the U.S. and China.(Source: Bloomberg)

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By Rich Miller and Enda Curran

July 1, 2018 at 4:01 PM UTC

Updated on

July 2, 2018 at 5:26 AM UTC

This article is for subscribers only.

U.S. President Donald Trump’s assertion that trade wars are “good, and easy to win” is fake news if economists are to be believed.

The victor in an economic war of attrition will instead be which nation loses least. The first salvos are set to be launched this week as America and China prepare to slap duties on each other, risking a spiral of tit-for-tat tariffs that imperils global growth.