Trump's trade war is probably hitting the US economy a lot harder than China's, HSBC says

Americans have felt relatively more pain from President Donald Trump's trade war than Chinese consumers and businesses, according to analysts at HSBC. Studies of trade-war impacts by the International Monetary Fund and the European Central Bank found the "likely impact on the US economy to be significantly more negative than on China," the analysts Janet Henry and James Pomeroy said in a research note. "Whereas China has been benefiting from strong import demand in most of its other trading partners except for the US (and Germany, due to cars)," they said, "the US has not."
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