US businesses and consumers could be the 'prisoners' of Trump's trade fight with China

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A trade war has been brewing between the US and China.

The White House has said the US would have an edge over China in a trade war.

But economists think China has more room to negotiate.

The White House has asserted the US has the whip hand in a tariff fight between the world's largest economies — with a senior economic adviser saying "it's clear China has much more to lose" and the president himself declaring that "trade wars are easy to win" — but economists widely disagree.

The Trump administration vowed last week to slap a 25 tariff on 50 billion worth of Chinese goods, prompting a tit-for-tat response from Beijing. Trump went on to threaten additional rounds of tariffs that could affect 400 billion worth of products, an amount approaching the 505 billion of goods that Chinese ships to the US.See the rest of the story at Business InsiderNOW WATCH: Learning to celebrate failure at a young age led to this billionaire's successSee Also:The Air Force's 'rods from god' could hit with the force of a nuclear weapon with no falloutTrump's trade war escalation has sent Chinese stocks tumbling to multi-year lowsThe Bank of Japan appears unlikely to give up on QE anytime soonSEE ALSO: There's confusion over whether the Trump administration secretly promised Apple that iPhones wouldn't be caught in the cross fire of a trade war with China

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