, Columnist
Not Everyone Loses in a Trade War
Hostilities could accelerate the flight of factories to the rest of Asia.
Vietnam's been drawing factories away from China already.
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Economists like to say that no one wins in a trade war. We may soon find out if they're right. Only hours after U.S. President Donald Trump said he would slap tariffs on a range of Chinese products, China imposed punitive duties on some imports from the U.S. in retaliation for previously announced U.S. tariffs on steel and aluminum. And here we go, down the rabbit hole.
Companies, workers and consumers from both countries are almost certain to get hurt in a tit-for-tat conflict. On the other hand, the carnage could produce big winners elsewhere in the developing world.