Donald Trump to unleash nearly 40% tariffs on China in early 2025, hitting growth
The poll, the first on China's economy by Reuters since Donald Trump's sweeping election victory on Nov. 5, also predicts that the President-elect will resist starting off with blanket 60% tariffs on Chinese goods.
Trump, who is due to take office in January, pledged during campaigning to slap hefty tariffs on Chinese imports as part of a package of «America First» trade measures, causing unease in Beijing and heightening growth risks for China.
Not only are the threatened tariff rates much higher than the 7.5%-25% levied on China during his first term, the economy is also in a much more vulnerable position given the prolonged property downturn, debt risks and weak domestic demand.
A poll of more than 50 economists by Reuters from Nov. 13-20 showed a strong majority, both in and outside mainland China, expects Trump to impose the tariffs by early next year, with a median estimate of 38% and projections ranging from 15% to 60%.
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