Quoted: University of Wisconsin-Madison economist Maria Muniagurria said the retaliatory tariffs will have long-term effects beyond that $12 billion. They give other countries a chance to swoop in and take America’s spot in China’s supply chains, like Brazil did when China put tariffs on American soybeans, she said.
“Suppose we end the trade war with China, and China removes the tariffs. Well, we are not sure we are going to be able to recover the market again,” Muniagurria said.