Chart 4 Labour market: employment and hours worked by sector (index: Q4 2019 = 100; left panel: persons employed; right panel: total hours worked)  Source: Eurostat. Note: The latest observations are for the fourth quarter of 2021.
It is plausible that the effect of the technology dispute will be larger than that of the tariffs. The technology dispute raises the possibility that any business involved in the technology production chain will have to choose between East and West rather than selling into a global market.