In the United States, shoppers are gearing up for Black Friday and Cyber Monday. But in China, the shopping bonanza, Singles Day, just ended. All of this consumer activity fueling growth, connecting consumers to the goods they want and the flurry of profitable international trade, is threatened by the ongoing trade war.

For all of President Trump’s clamoring about winning, in the end consumers, like those cashing in on November deals on both sides of the planet, lose.