Advantages of US trade war:
- It protects the job at home.
- Vulnerablities of home country get reduced as distinct products
are produced at home.
- Trade deficit can be reduced through such trade or by imposing
levies.
- Last but not least, it enhances the government revenue from
tariffs and levies.
Disadvantages:
- it makes goods expensive at home.
- General public welfare is get compromised due to rise in price
level.
- Other country might take retaliatory action.
To sum up, US has gained through its trade war and but over the
long run, it might feel the pinch of such action in form of
expensive economy. its export might get hurt over the long run.