Well here except for the labor costs, raw material and machinery costs will increases. Earlier need to pay less but need to pay more due to devaluation. So it

Well here except for the labor costs, raw material and machinery costs will increases. Earlier need to pay less but need to pay more due to devaluation. So it reduces profits and there by investments and capital expenditure. That's the reason trade war is reverberated across globe especially in raw material and component countries like Australia, Germany, France, Japan and Korea. This will bring down a global slow down not specific to China and USA. Since Global trade is always multi-lateral and impact can't be gauged completely. Moreover investments are driven by perception and this lower profits and growth outlook will dampen the overall sentiments.