As the old adage goes, “trade wars have no winners.”
As the Sino-American trade war dragged on last year, it weighed on both the U.S. and Chinese economies : GDP growth has slowed, manufacturing declined and trade volumes decreased, while the bright spots that remain include solid consumer spending, steady jobs and rallying stock markets.
Since the trade war started in July 2018, GDP growth has slowed in both the U.S. and China, down to 2.1% and 6%, respectively, as of theIf tariff pressures continue, or if U.S. and Chinese domestic growth slows further in 2020, “that would likely cause the slowdown in the global economy to become more protracted… it would also trigger a stock market sell-off,” according to Nicholas Sargen, economic consultant at Fort Washington Investment Advisors.
Amid slowing global trade activity due to tariff pressures, exports and imports in both countries decreased in the first ten months of 2019, compared to the year before, data from the U.S. Census Bureau and National Bureau of Statistics of China show. The overall U.S.
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