(Bloomberg) --
There's no winner in a trade war -- what matters for the U.S. and China is who loses least. Bloomberg Economics' analysis of 700,000 trade data points shows that, in one important respect, the U.S. is the biggest loser. China was the dominant supplier of many tariffed products, meaning U.S. importers are scrambling -- and failing -- to find replacements. With China sourcing from a wider variety of countries, its firms face smaller supply disruptions.
©2019 Bloomberg L.P.
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