What does losing a trade war do to an economy? Believe it or not we are in a trade war with China and losing it! They are the only ones fighting it.
I love the don't fight the trade war comment, but bending over to say Japan and South Korea is a good thing? Both of these countries benefit from non-barriers to our markets, but both place high barriers on our products. American Made Cars in SK have such barriers in advertising, quotas, sales tax increases, locations etc. Yet those SK cars have no barriers in the US!
Believe it or not we are in a trade war with China and losing it!
Because they sell us cheap stuff that we willingly buy?
and because they US Dollars they get must eventually be spent here anyway.
They could burn them or use them as wallpaper.
Would that mean they won the trade war?