A trade war is terrible for everyone

It is the US which is likely to be hurt the most. By virtue of the sheer size of the market, Asia today is far more important to the EU than the US

As the trade war escalates, for the first time in 20 years the world’s second largest economy China has reported a current account deficit of $28.3 billion in the first half of 2018. Close on the heels of additional tariffs of $200 billion on Chinese goods that came into effect from July 31, the Trump administration has announced a new round of tariffs worth $22 billion. China announced retaliatory tariff of $60 billion when Washington implements its threat. In what is being seen as an all-out war, the US and China are engaged in a mutually-destructive trade war that is