The trade war is completely escalating. So President Trump decided to put a new terrifying place. At the moment China does not have much to retaliate. At least on the trade point. But you can expect quite some Chinese reactions. The bad news is that the trade war will hurt small and family owned companies. This is exactly the companies Trump intends to protect.
We need to keep in mind that not all taxes are simply passed on to the final consumer. due to the competition, this is not possible.
Businesses will take on some part of the costs. This to protect market share. Unfortunately, this will result in lower profits for the businesses. This will result in lower investments in the future. This is just another form the trade war is hurting the economy.
This is just another and uncovered method the trade war is just hurting the economy.