Just the Fear of an International Trade War is Slowing the Global Economy; it Could Get Much Worse Q
Peter S. Goodman, Ian Austen and Elisabeth Malkin describe how the threat of a trade war is already slowing international economic activity and how much worse it could get if Trump follows through.
The New York Times: "As the conflict broadens, shipments are slowing at ports and airfreight terminals around the world. Prices for crucial raw materials are rising. At factories from Germany to Mexico, orders are being cut and investments delayed. American farmers are losing sales as trading partners hit back with duties of their own."
Companies place orders for parts and raw materials based on their need to manufacture finished goods in the future. Thus, constant threats of a trade war reduce economic activity even before actual tariff barriers are erected.