Tariff Wars: Does Anyone Really Win?

Can a tariff war ever be beneficial for any country? Extra tariffs usually lead to higher inflation, as you already know. There is significant tension between the United States and China over tariffs. Last year, the United States imported approximately $462 billion worth of goods from China, while its exports to China were about $199 billion. Imports mainly incluis around 57 percent.

So, does the burden of extra tariffs ultimately fall on the country itself? Wouldn’t it be better to resolve these issues through mutual understandingded electronics, machinery, appliances, and clothing, while exports consisted of soyabeans and grains, aerospace products, semiconductors, and oil and gas products. The imports-to-exports gap and cooperation, and to establish production units in each other’s countries so that the global economy can remain stable and balanced.