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Outside the Box: Who gets hurt in a trade war? Mostly not China

A global trade war is not out of the question anymore. President Donald J. Trump has set the first domino in motion, and it will be hard to stop.

Specifically, Trump has in March alone imposed two tariffs — one targeting Chinese imports and the other the steel and aluminum imports that took effect Friday.

Taken together, these tariffs will have far-reaching, global implications that could escalate into a trade war.

What is a trade war?

A trade war has two basic components.

First, it is often said to be a side effect of protectionism — a situation in which one country retaliates against another that imposes trade barriers (such as tariffs and quotas) on the other country.

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