The Effects of the Trade War on the US Economy

Over the last year, there's been a clear shift in the US approach to international trade. There were sweeping export restrictions placed on the semiconductor industry justified in the name of national security. Apple has diversified their supply chains by manufacturing all of their main product lines in more than one country. If de-globalization began to materialize and a meaningful part of the productivity gains that have been driven by globalization were to disappear over a short period of time, this would likely result in major trade disruptions and a protracted recession.