The trade deficit of $57.6b in February (largest since 2008) in the US continues to drive a financial tool-measuring contest between the US and China. This, despite an actual 2.3% decrease in the US trade gap with China from Jan-Feb, AND despite concerns–from pretty much every person with experience in these things–that stoking a trade war with 25, 50, and 100% tariffs is foolish.
A full-blown trade war between the world’s two largest economies, should one develop, probably would not cause American exports and imports to go into reverse, but it could weaken growth in trade.
Often, experts are experts because they are experienced in the thing, instead of the shallow, politically-expedient label of “elitists.”