More pain than gain: How the US-China trade war hurt America

Donald Trump built his argument for the presidency around his claimed acumen as a dealmaker.

As the 2020 election draws nearer, President Trump and his surrogates are doubling down on that assertion.

Despite Trump ’s claim that “trade wars are good, and easy to win,” the ultimate results of the trade deal between China and the U.S. have significantly hurt the American economy without solving the underlying economic concerns.

A report from Bloomberg Economics estimated that the trade war would cost the U.S. economy $316 billion by the end of 2020 .

The tariffs forced American companies to accept lower profit margins, cut wages and jobs, and raise prices for American consumers or companies.

China also felt economic pain as a result of trade war, though not enough to capitulate to the Trump administration’s core demands for structural reform.

China and the U.S. declared a truce in the trade war at an ornate signing ceremony at the White House involving President Trump and Chinese Vice Premier Liú Hè .

Julian Zelizer : Beijing ’s antennae are tuned to the signals that other leaders send to Xi Jinping .

Zelizer says Beijing 's decisions to move in its current direction were made simpler by its confidence in Trump 's tight focus on trade.