"In response to 10 per cent tariffs on all Chinese imports into the United States, China has hit back with a 15 per cent tariff on selected US imports into China."

ABC (australia) headline just now.

Who could possibly have predicted this!?!?! Oh yeah, every single economist did. This will harm the economies of all nations involved and given the size of those economies and their importance to global trade, it will cause a slowdown effect on the global economy. Again, this isn't my analysis it's what literally every economist I've seen weigh in has said would happen.