What will the 'ripples' be from US-China trade wars?

The US administration appears to be targeting export-oriented entities out of China.

Exports, however, are of little importance to the Chinese economy. The largest and fastest-growing part remains Chinese companies selling goods and services domestically. This means any impact of a trade war on these companies should be modest.  Still, a risk remains that as US-China trade rhetoric escalates, the Chinese administration might make policy mistakes. Ripple effects could result in increasing consumer prices and the domestication of the global supply chain.  What are the implications if trade hostilities escalate further? We have seen a partial shift in the financial in...