Relevant:
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- China announces new tariffs on US meat and fruit, 128 products total, amid trade war fears
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- Trade war begins: US-China tariffs kick in, China retaliates
- Donald Trump is a deeply stupid man who routinely gets his ass kicked on the world stage
2018-11-20 — bloomberg.com
The trade dispute between the U.S. and China is showing slim hope of abating as the leaders of the two nations prepare to meet in Argentina this month. According to Zoller-Rydzek and Felbermayr, the tariffs will do what Trump has longed for: They will cut American imports of affected Chinese goods by more than a third, and lower the bilateral trade deficit by 17 percent.
...
"As the trade conflict escalates, however, the U.S. administration may not be able to restrict its selection to products with high import elasticities," they wrote. "And U.S. welfare might decrease as more of the tariff incidence falls on U.S. consumers."
Trump picked the low-hanging fruit (as always) -- it will get much harder to escalate this war...
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