No one will like the results when it happens.

A huge global trade war is on the horizon, regardless of whether Hillary or Trump wins the election.

The die is cast: US Steel Given Green Light to Seek China Import Ban.

The US has given the go-ahead for the country's largest steel producer to seek a ban on imports from Chinese rivals, in the first known case in which trade sanctions could be used in retaliation for alleged China government-backed hacking of commercial secrets.

In a decision last week the US International Trade Commission gave the go-ahead for the case to proceed, setting the stage for a legal battle that experts say will probably take more than a year for an administrative judge to decide.

This timeframe could lead to a decision related to arguably the US's most important commercial relationship early in the next president's first term. Under the law, US presidents are given 60 days to block ITC decisions on Section 337 cases, although according to the ITC "such disapprovals are rare".