The escalating trade war between the world’s largest economies has spooked investors and executives on many occasions throughout 2019.
A wide range of business organizations have come together to warn that American workers and consumers will soon be caught in the crossfire.
When it comes to who’ll be hurt the most by the trade war, it’s increasingly evident that a handful of America’s biggest companies will be able to get around the damage. The Chinese economy is being hurt by the trade war, so big American companies have the option to move their operations to China’s neighboring countries. The trade war is causing a shift in the global economy, and the winners appear to be a few big American companies and China’s regional competitors.
Many of America’s most serious business leaders have kept a low profile as the trade war has picked up. This may be for the obvious reason that getting on the bad side of Trump’s Twitter feed can be great for some, but certainly not for serious business leaders. They may also be hoping that the trade war will come to a close if Trump can successfully reach a favorable deal with the Chinese. However, as the trade war reaches new heights with few signs of letting up, many business leaders have had to come to terms with the fact that the economic outlook isn’t so good. Joshua Bolten is the president of the Business Roundtable, an organization representing America’s largest companies. According to him, “The risk is that everybody’s going to slam on the brake, and that would be a disaster.”
The Business Roundtable has come out with warnings over the Trump Administrations current course with the trade war. According to Bolten, Trump’s trade policies could “disrupt trade and commerce in a way that would cause huge damage — not just to the Chinese economy, but to the global economy and the U.S. economy.”