The tit-for-tat tariff measures between the United States and other countries are stirring global supply chains and causing losses to businesses, farmers and consumers around the world, including those in the US. So, how much damage has the latest round in the trade spat caused and where will it spill over to next? Let's take a look.

The Financial Times reported recently that Chinese buyers have cancelled about orders for 830 thousand tons of soybeans from the U.S. since the trade tensions began in April. That translates into a 270-million-dollar loss to American farmers. China has turned to Brazilian imports even though they cost 66 dollars more per ton.

LIANGMING, DIRECTOR OF FOREIGN TRADE INSTITUTE CHINESE ACADEMY OF INT'L TRADE & ECONOMIC COOPERATION "American soybean exports are highly reliant on the Chinese market, because it can't sell as much to any other countries. But China can always find alternative sources for soybean imports such as Brazil, South America, and even Russia. Theirs may be more expensive but how much is still up for debate."

The U.S. shipped more than half of its soybean exports to China last year. That was worth over 12 billion US dollars. And there are 10 other categories of goods on the U.S. tariff list that are also highly dependent on the Chinese market. That overshadows the earnings forecasts for many American companies.

XU XIANCHUN, DIRECTOR CHINA DATA CENTER, TSINGHUA UNIV. "What's hurting to trade will also hurt countries' GDP growth for sure."

Standard and Poors estimated in May that if the US and China mutually charge 25-percent tariffs on 50 billion dollars worth of goods, the American economy would slow 0.1 percent this year. Authorities in China expect the same amount of tariffs to drag the Chinese economy by 0.12 percent annually from 2018 to 2020.