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The Impact of Trump’s Proposed 60% Tariffs on China on the US Economy

ByEditor

Feb 12, 2024

The US-China Trade War was a significant component of Donald Trump’s platform during his 2016 campaign. While in office, the Trump administration implemented strict tariffs on Chinese goods, and the Biden administration has continued and even expanded these measures. As Trump looks to secure the Republican presidential nomination again, he is proposing even higher tariffs on Chinese goods, potentially reaching 60% or more. The impact of this potential tariff increase on the US economy and global trade is uncertain, and it raises questions about inflation, domestic manufacturing, and trade relationships with other countries.

To shed light on the impact of these potential tariffs, Tom Orlik, chief economist at Bloomberg Economics, and Mackenzie Hawkins, US industrial policy reporter for Bloomberg News, are interviewed in this episode. Their analysis provides key insights into the economic effects of tariffs, the consensus around China tariffs in DC, manufacturing protectionism beyond China, the potential impact on the US economy, and the knock-on effects of more tariffs.

The episode also explores the relationship between tariffs and the clean energy transition, the perceived threat from China’s electric vehicles, Russian-China economic cooperation, China’s perception of Biden versus Trump, and the “leakiness” of additional tariffs. This analysis offers valuable insights into the potential implications of further escalating tariffs on Chinese goods.

By Editor

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