India, Feb. 5 -- European Union countries will possibly profit the most from the ongoing US-China trade war, which in no way benefits the parties in dispute, a UN trade agency said.
A new study by the UN Conference on Trade and Development (UNCTAD) looks at the repercussions of existing tariff hikes between the United States and China, as well as the expected impact of a significant tariff hike possible to take effect next month.
The tariff hike is currently frozen, as both countries agreed for talks to strike a deal by March 1.
Washington said it will increase tariff rates on $200 billion worth of Chinese goods from 10 percent to 25 percent if the deal is not achieved by that deadline.
Amid tit for tat tariff hikes, trade is being dive...