Have we thought through how this trade war with China ends?

Let’s step back for a moment and recognize where we are right now. The United States has launched a trade war with the world’s second-largest economy, China. Together, the two account for almost 45 percent of global output and more than 20 percent of global trade. And it has entered this battle with remarkably little planning or forethought. Do we have a sense of where these growing tensions will lead?

It would be easy to blame the Trump administration for shooting first and thinking later. More than 80 percent of all smartphones imported by the United States come from China, as do 78 percent of all computer monitors. Can we find new suppliers for these in the next few months? Meanwhile, China imports lots of oil, gas, soybeans and pork from the U.S., which can be easily bought from other countries around the world.

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