Not only are trade wars difficult to win, they are impossible not to lose. A good example is how China is getting hit by the current trade war launched by the United States – and how much that has rebounded to hurt Americans.
Last month, China's exports dropped more than they had in two years. Lest anyone think that is somehow good for the country's trading partners, they should note that imports had also contracted. Softening Chinese demand is being felt all over the world – most especially including the United States. China's economic decline has already had effects on the sales of such goods as iPhones and automobiles. Apple has issued a warning to investors largely attributing the company's recent problems to sluggish sales to China. Jaguar Land Rover announced sweeping job cuts.
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