As trade tensions between the US and the Chinese mainland persist, American academic Scott Lucas warns that tariff wars create universal losses – with US businesses and consumers bearing the immediate brunt. The University College Dublin professor argues that punitive measures imposed during the Trump administration continue reshaping global supply chains nearly four years later.
The Ripple Effect of Trade Barriers
Lucas explains that tariffs function as "self-imposed economic headwinds," forcing US importers to either absorb costs or pass them to manufacturers and consumers. This dynamic creates inflationary pressures while complicating efforts to rebuild critical industries like semiconductor manufacturing.
Long-Term Strategic Consequences
Analysts suggest the trade policies accelerated Southeast Asia's emergence as alternative manufacturing hubs, with Vietnam and Malaysia seeing 18% annual growth in tech exports since 2020. However, Lucas cautions that "no economy emerges unscathed from prolonged protectionism," noting reduced Chinese agricultural purchases continue impacting Midwestern US farmers.
