China tariffs could be ‘tip of the iceberg’ in a ‘long, entrenched trade war’

Finance professor Jason Reed weighs in on U.S.-China tariff dispute in an opinion piece for CNBC. Read the full article here. 

Economists are almost all in agreement that persistent trade retaliation with China is economically damaging, but there are some, that are not convinced of the effects. Some economists have argued that continued unilateral trade negotiations will not likely increase in escalation—it will be business as usual for both sides—but the effects could spill over and could escalate political tensions between China and the U.S. Especially, if the U.S. and other allies begin to work on multilateral trade negotiations aimed at limiting Chinese state-sponsored industries, global tensions could begin to rise.