Trade War: Percentage Point and Trade Frictions

trade war: While there is no need to panic, we should also prepare for worst-case scenarios, according to Global Times China. Everyone is concerned about how trade frictions will escalate. Many institutions have forecast the impact of increased tariffs on China's economic growth to be around 1 percentage point. First will come escalated tariffs. According to my estimates, the US may have suffered more at the beginning, but China's losses could be bigger later. In the early days of the trade war, American consumers shouldered much of the burden of tax increases. (news.financializer.com). As reported in the news.