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Trade war cost US, China billions of dollars in 2018, agriculture worst hit

The losses may give U.S. President Donald Trump and his Chinese counterpart, Xi Jinping, motivation to resolve their trade differences before a March 2 deadline

Reuters  |  Chicago 

The US-China trade war resulted in billions of dollars of losses for both sides in 2018, hitting industries including autos, technology - and above all, agriculture. Broad pain from trade tariffs outlined by several economists shows that, while specialised industries including U.S. soybean crushing benefited from the dispute, it had an overall detrimental impact on both of the world's two largest economies. The losses may give U.S. President Donald Trump and his Chinese counterpart, Xi Jinping, motivation to resolve their trade differences before a March 2 deadline, although ...

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First Published: Sat, December 29 2018. 02:20 IST
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