Sound & Fury

The outcome of any war between two unequal forces could be predictable - maybe the stronger side wins and the weaker side loses.

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But, when two mighty forces clash, the result does not show any decisive winner or loser. Hence, the way US President Donald Trump could bully Ukraine in the war with Russia, he could ill afford to use the same tactic in the trade war against mighty China. Hence, after slapping an impossible tariff of 145 per cent on Chinese goods, he was forced to climb down for a 30 per cent hike and a truce on 11 May for 90 days. Likewise, China had to lower its retaliatory hike of 125 per cent on US goods. But, before the ceasefire in the tariff war between the US and China was declared, international business and economy had already suffered such a dislocation that stakeholders across the globe are viewing the truce with great deal of circumspection. That itself shows the quixotic nature of Trump's trade war.