These 4 Goldman Sachs charts show how hard Trump's trade war is hitting the US and China
- The trade war is taking a massive toll on the global economy.
- The bank expects an "extended truce," and sees the drag on growth waning next year, "assuming that tariffs stay at current levels through 2020."
- Below are four charts showing the damage of the trade war on both sides.
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The trade war is taking a massive toll - earlier this week, the World Trade Organization warned that global trade was stalling because of it.Goldman Sachs economists said that the trade war is hitting China the hardest - mainly due to the drop in net trade.Advertisement
The bank expects an "extended truce," and sees the drag on growth waning next year, "assuming that tariffs stay at current levels through 2020."
Still, the impact has been clear. Below are four charts showing the extent of the damage.
US financial conditions have tightened.
People in China are getting worried.Advertisement
China's been worse off in terms of the hit on GDP, but only just.
The trade war will keep dragging into the new decade.Advertisement
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