Latest US-China tensions could be the trade version of 'the end of the world as we know it'

"You want to think of it as something more than a pinprick, a little bit of damage, a little regression of the global trend that we've been seeing for many decades. But it has the potential to get worse," said Alan Blinder, a Princeton University economist. "We're not yet in a full-scale trade war, we're certainly not anywhere close to a full-scale currency war of competitive devaluations.

Blinder said one negative scenario would see the U.S. start to become alienated from the rest of the trading world as it continues to levy tariffs not only on China but also on such traditional allies as Europe, Mexico and Canada. From a credit perspective, Moody's Investors Service said tech, manufacturing and retail are most exposed as "the new tariffs will apply mainly to consumer goods and result in higher prices in the US for many everyday items such as electronics, clothing, footwear and toys."

"This is a necessary step in figuring out the rules of the road for greater globalization," he said. "All those issues out there are not going to be solved very soon, but this is what you have to do to get there."

GOD BLESS AND PROTECT THE PRESIDENT, HIS ADMINISTRATION AND GOD BLESS AMERICA ALWAYS 🇺🇸🇺🇸🇺🇸🇺🇸

CNBC’s core competency distortion and exaggeration !!

Thanks to Don the Dictator’s actions! The great negotiator has failed AGAIN!?

OH PLEASE! China has been taking us for a ride for decades! NO one will stand taller then the US and OUR Military EVER! FAKE NEWS WILL SPHEW ALL LIES! You know not what you do!

GlobalTeam100 More fake news propaganda- this is just beyond ridiculous- please stop being dramatic and pathetic

8 years of collegiate level incompetence has enabled China to GangBang USA. Now it’s BigLeauge!

stevelackmeyer Little DRAMATIC

stevelackmeyer The sky is FALLING.

Lets not exagerate. Give it five years...

red china is dirtier than obama comey clapper hillary n brennan combined! pull out!

stevelackmeyer Key word. “Could”

Starting the hate mongering a bit early today aren't we?

I do not believe that. Trade wars cannot end the world! Traders will always trade!

If by “the end of the world” you mean the end of China cheating on trade the let’s hope so.

He is a fake president.

Как так-то!?

Thanks Trump chosen one 👹

The U.S. doesn't need a 'deal' actually. The U.S. just want to be the dominant world power, or absolute, permanent hegemon.

......and I feel FINE !!!

Does anyone at CNBC bother to monitor their ridiculous tweets? Who writes these things? It would be better if CNBC stayed out of politics and reported financial news...without political bias of course.

This offer of presidents for the election game the maximum thing that will happen will increase the price of shoes imported from China ten dollars

And yet I fight. Yet, I fight this battle all alone.

When Trump was asked if he's losing any REM-sleep, given 'It's the End of the World as We Know It,' he noted that he can't be REM-minded to do anything.. - Latest U.S.-China tensions could be the trade version of 'the end of the world as we know it.'

Mr Trump is telling I know who is doing........... in HK just say YES SIR YES SIR TO ME WHATEVER MR TRUMP SAYS CHINA SAY YES SIR UES YES SIR

Tariffs make up less than 1% of U.S. Consumer spending. Tell again why the media is freaking out.

Please. Who are you trying to scare. Trump supporters?

2nd Cold War. This is a reality and it deals with technology.

In the ear Mr Trump is telling I know who is doing CONSPIRACIES IN HONKONG

Melodramatic much?

Last updated Aug 6th. Cmon

I’ve told you a million times not to exaggerate hyperbole

Loving this America first strategy. Let's see how much America can make for itself, sell to itself and work for itself! Block the damn border too .. let's see how many iPhones apple can sell IN America .. bloody hell I have never seen dumber strategy!

The end of the USA 1) The petrodollar is finish. Iran, Venezuela and many others do not trade with dollars anymore 2) Less demand, lower prices, less GDP of nations that buy from the USA 3) Massive debt that the USA can not pay 4) Trump is so stupid goes after who buys bonds

If we’re lucky, there will soon be an end of the employment of all the unhinged idiots at CNBC who write these articles and tweets.

I fear we are past the point of no return. Neither leader wants to lose “face”. Each action causing and equal and opposite reaction toward punitive tariffs, negative interest rates and economic doom. nytimes AshaRangappa_ maggieNYT washingtonpost jaketapper

The sky are falling

The headline a real stretch! Both countries can come away from the table with a good deal. Depends on China realizing the days of taking major advantage and the US allowing it are over.

Nonsense.

Ends thwarted by the means. Ignorance and incompetence trump the best of intentions.

A little over the top dontcha think?

Xi needs to stand down

Or it could end up with a great deal for both parties. Your writers seem to be pessimistic about our success. I guess the old adage is true: If it bleeds, it leads.

Trump visualizes warfare differently. Dollars vs bullets.

The end of the world as we know it occurred when DJT🤥💩 was made president by Russia 🇷🇺 interference and CNBC, the 1% rich corporate elite fascist power structure put power/💰 over country🇺🇸‼️

These developments will make US to make cautious to take any step against the interest of India as it is being second largest market (population wise) after China. India should tactfully negotiate.

The market does not understand that Trump is a globalist. China wants Trump re-elected. Expect a trade deal. The yield curve is going to dramatically steepen after the deal. Hongkong is the test, Trump will not intervene. To him, that is a domestic Chinese issue. elerianm

One can even change the world by his or her's thinking and on his or her's thoughts purities. If and only if his or her's thoughts and thinking are accepted by nature or by environment within.

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