China and Trump are to meet tomorrow at the G20 Summit. This meeting is really important that a trade deal is struck, otherwise, import tariffs will be enforced by both countries. So what will this mean.
Well if your thought the cost of your new iPhone was expensive, just wait until China add their tariffs. Apple has indicated that they might be prepared to absorb some of this extra cost, but ultimately it will have a detrimental effect.
Then of course the brands like Huawei will suffer and not continue to innovate for a while. Let’s face it, is it a coincidence that Huawei are making some of the best phones in the world, pressurising Apple and Samsung, and suddenly Huawei is on the US Entity list. And Huawei is leading the world on 5G infrastructure which is worth billions of pounds. Sounds like the modern fight for securing all the worlds oil!
Ultimately though, it is the average person like you and me that will suffer. Increased prices, stagnation of innovation, Android will end up being split, with Chinese companies using something different to Google, and likely everything costing more.
So, if this trade war is to be resolved, it needs to happen tomorrow, otherwise, it will be a long time before it does get sorted.