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Hank Paulson Says China Trade War Risks Long-Term U.S. Pain

Bloomberg business news
Paulson discusses the potential long-term risks to the United States from a trade war with China.(Source: Bloomberg)
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A trade war with China carries “dangerous” long-term risks because companies and nations may pull back from doing business with the U.S., former Treasury Secretary Henry “Hank” Paulson said.

“The question really is: Is China going to start looking for new markets for which they’re going to buy soybeans?” Paulson said Thursday in an interview with Bloomberg’s David Westin, suggesting it might turn to Brazil or Africa. “Are they going to be concerned that they need to protect themselves if there’s another tariff war and they need other suppliers?”