Many different outlets attempt to say how China stands to win and other say the opposite or some say no one.
I am predicting that ultimately America wins this trade war and the reason why is because of China's stock market vulnerability and its banking issues along with a slowing economy and over abundance of state owned enterprises (SOE's).
A few years ago you might remember the stock market crash of China. It was the beginning of many expert calling into question the Chinese economy in greater detail. The largest index in Shanghai lost a third of its total value in just one month and aftershocks would continue.
Today China is announcing that a trade war has officially begun and its stock market is taking a bigger hit than the U.S. market for now.
China announcing that a trade war has begun actually reveals a hidden weakness. That weakness is seen in shifting the blame for this trade war on Trump, the Trump administration and America. But everyone knows that the reason for Trump's increased assertiveness on China trade is to bring about a fair trade relationship that China has no interest in. Everyone knows that China's trade tactics are extreme and unfair and the communist party of china is dependent on those tactics for its survival and so being the first one to blink so to speak and trying to come out and blame Trump for this is evidence that the Chinese government is extremely uneasy about what is to come. For China to publicly announce that a trade war is now officially on says a lot because it knew by doing so that its own markets would take a hit as well as others.
Trump may have backed down over the military threat to North Korea but he has dug in now after the summit because he knows whats at stake and trade is perhaps the only thing that will get China's attention.