Trade barriers would not only damage both countries but would also disrupt global supply chains, raising prices for consumers worldwide

The tit-for-tat exchange of tariffs between the United States and China gives the impression the world’s two biggest economies are headed down the road towards a trade war, which would have hugely damaging economic consequences. But this could be averted if they continue quiet backroom discussions to open up their markets, particularly China’s.

Related: Trump plays down US-China trade war concerns: ‘When you’re $500bn down you can’t lose’

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Read More A US-China trade war would hurt us all | Linda Yueh

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