HMM: No winners in US-China trade spat — says who? “The EconPol Europe study calculates that Chinese exporters are bearing approximately 75 percent of the costs, meaning that eventually a net gain of $18.4 billion will be added to the US economy. Two factors play a major role in this. The more obvious one is the grave imbalance of the volumes imposed by Washington and Beijing. But what’s no less important is that the US tariffs were levied strategically, making sure it wouldn’t be hard to find substitutions for affected Chinese imports.”

Nonsense. Everyone knows that Trump is just an angry toddler who lashes out with no strategy at all. Of course, the second- and third-order consequences of this sort of thing are largely beyond strategic calculation.