, Columnist
Hey China! Check How the U.S. Trade War With Japan Went Down
If Trump revisited that battle he wouldn’t find the big win he’s looking for today.
They’ll be with us for a long time.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
China may be suffering from President Donald Trump’s trade war. A substantial number of Chinese companies are laying off staff, cutting wages and reducing capital expenditures. Prices are being slashed on goods subject to tariffs. And China’s export growth has slowed.
Of course, U.S. consumers and manufacturers will also get hurt by the tariffs. And there’s a chance that China’s slowdown is just a coincidence, and that the trade war has only slightly exacerbated the pain. China had already been trying to cool off credit growth in its shadow banking system, and its economy has been decelerating for the past six years: