Trade wars can be lost. Guess by whom?

Trump can use all the superlatives he wants about the state of the American economy, but this does not prevent the slowdown

Guess what? Trade wars are not “easy to win”. They even might be lost. Donald Trump is beginning to have a sinking feeling about this possibility after a bad week. There has been, first, the announcement of new tariffs of $75 billion by Beijing on American imports. This was in retaliation to Mr Trump’s announcement of 10 per cent tariffs on the remaining $300 billion Chinese-made consumer goods not yet hit by tariffs on September 1 and December 15.

The move by the Chinese leadership is quite worrisome for the White House: It shows, first, that Xi Jinping is not ready