If that fails, nearly all Chinese goods imports into the United States - worth more than $500 billion - could be affected. "Overall, the results indicate that the United States tariffs on China are economically hurting both countries," the report said. "United States losses are largely related to the higher prices for consumers, while China's losses are related to significant export losses." Not all of Chinese trade losses were picked up by other economies and billions of dollars in trade were lost entirely. The paper did not analyse the effect of Chinese tariffs on US imports into China because detailed data was not yet available.

Source: bd News24 November 06, 2019 05:03 UTC