Trade wars: The biggest loser

Donald Trump has accused China of manipulating its currency and stealing American jobs. If he imposed punitive tariffs on Chinese goods, he would violate WTO rules and trigger a trade war. In the short term, this might help some American companies. But it would hurt consumers, particularly poor ones, and firms relying on imported inputs from China. The biggest casualty might be the WTO,  writes our economics correspondent.

 

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