Any trade war could mean huge costs for both countries and collateral damage for the rest of the world. [ Trump’s tariffs on Chinese products won’t work. Both countries benefit tremendously by trading with each other, but the gain is more concentrated in the United States, according some scholars. This measured retaliation signals that China is not yet willing to push the tensions into a full-fledged trade war. As the largest customer for U.S. soybean products, China could switch imports to other countries relatively easily.

Source: Washington Post March 29, 2018 10:52 UTC