The first wave of Donald Trump’s trade war on China, punitive tariffs on $US250 billion of its exports, rivals the brutal protectionism of the Depression. But at least supply chains for basic goods and commodities can be re-established relatively quickly once the barriers are removed.
Phase two of the President’s campaign – citing national security imperatives to try to drive Chinese companies like Huawei out of tech supply chains – could leave a much longer lasting mark.
