Trump's 104% tariffs could cut down China’s GDP growth by 2.4 percentage points
US President Trump's tariffs, now fully implemented, are projected to significantly impact China's economy, potentially reducing its growth by 2.4%. Goldman Sachs forecasts a lower 4.5% growth for China, against its 5% target. These tariffs, along with levies on other nations like Lesotho, Vietnam, and the EU, escalate global trade tensions. China has vowed retaliation, prompting Trump to threaten further tariffs.
US President Trump's tariffs, now fully implemented, are projected to significantly impact China's economy, potentially reducing its growth by 2.4%. Goldman Sachs forecasts a lower 4.5% growth for China, against its 5% target. These tariffs, along with levies on other nations like Lesotho, Vietnam, and the EU, escalate global trade tensions. China has vowed retaliation, prompting Trump to threaten further tariffs.
