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As a potential trade war with China looms, President Trump has admitted that he’s “not saying there won’t be a little pain.” This could refer to rising prices of certain goods, or other ‘unintended consequences.’ It also depends on the actual value of products. For example, only 1 percent of the retail price of an iPhone 7 consists of Chinese labor costs, according to research done by iSchool professor Jason Dedrick. You can read further, via Bloomberg.