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Trump’s Tariffs Could Deliver a Sizable Hit to China’s Economy

Donald Trump’s threat to impose tariffs on another $200 billion of Chinese imports could cut as much as half a percentage point from the nation’s economic growth, according to economists.

The warning comes amid signs that the world’s second biggest economy — and biggest contributor to global growth — is already slowing down as a simmering trade dispute with the U.S. risks spiraling into a protracted trade war. China’s economy grew by 6.9 percent in 2017 and the government has set a growth target of 6.5 percent for the current year.

Trump on Monday evening ordered identification of $200 billion in Chinese imports for additional tariffs of 10 percent — with another $200 billion after that if Beijing retaliates. He’s already promised to place tariffs of 25 percent on $50 billion, starting July 6 with an initial $34 billion worth of imports.

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Source: Bloomberg

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