How will a trade war impact the US?

Trade creates specialization, efficiency, product improvement and low cost

Central banks can see this coming, underway in several places, but they have another problem: very little room to cut rates and desperately frightened of the “zero bound.” Thus, a continuous argument worthy of Monty Python: Do we fire our limited ammunition now or save it until it’s ugly? If we don’t fire now, then it might get so ugly that firing won’t help.