Losses due to the US-China trade war reach tens of billions of dollars: Report

We have kept saying that while the US President Donald Trump did say that China will suffer due to the US-China trade war, there was really no winner. In fact, both the sides have lost a lot due to the trade war and it now seems that the US has lost the same amount as China due to this trade war.

Now, we are not going to go in any sort of detail about how the US-China trade war has affected the politics but we will tell you about the numbers from this trade war as reported by CNBC. It has been revealed that both countries’ economy has suffered.

As far as the U.S. imports from China are concerned, they have been down by $53 billion as compared to data from nine months ago. This is because of the ban imposed on imports from China in the US. However, it is observed that the exports to China from the US have also decreased which are down by $14.5 billion from the same time 9 months ago.

While President Trump can say that the margin between imports and exports of China is huge, there is still a gap and the US has also lost billions due to this war. We should also keep in mind that the US already exported a lot less to China than it imported so the import drop is a lot more when we look at it in terms of percentages.

So looking at the percentages, the drop in exports from the US to China has been 15.5% which is higher than the 13.5% drop in imports from China to the US. The percentage data makes it clear that the US actually suffered due to the trade war while we already know that China has suffered even more. Now, we ae hearing that the US-China trade war is coming to an end with the signing of a new deal and we think the industries hurt by the ban could see a sharp bounce back.