Wall Street analysts are predicting that the US’ tariff war with China is unlikely to succeed.

As factors, they cited the overwhelmingly high shares enjoyed by many Chinese imports in the US market, along with China’s superior cost competitiveness compared with rival products.

The question many are focusing on now is how much US companies and consumers will be unable to withstand rising prices for consumer and intermediate goods until the tariff war can produce supply chains that shut China out.

Inexpensive Chinese products enjoy overwhelming market shares

On Monday, the Korea Center for International Finance published a report titled “Possibilities for US substitution of Chinese imports.” In it, the center observed that 36% of the total import dollar value for Chinese products in the US last year (around US$158 billion) was for items that held a share of over 70% in the US import market.