The Trump administration may have another aspect in its sights – trade with Beijing. China – one of the largest trading partners of the USA. Last year, its exports to the country exceeded 500 billion dollars.
Trump is likely to introduce higher tariffs on Chinese goods. This is according to the experts of the Asia Group consulting firm.
During his first term, Trump introduced tariffs of up to 25% in response to what he called "unfair trade measures" Beijing President Biden kept those tariffs in place. But Trump wants more.
200% Deposit Bonus up to €3,000 180% First Deposit Bonus up to $20,000The European Union is also threatening to raise tariffs on some Chinese imports. Lin believes that China does not want to wage a trade war on two fronts.
Some experts believe that the trade war will cause even more damage to China than during Trump's first term, because the country's economy is now much more vulnerable.
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High tariffs on Chinese goods will not only pose a serious risk to China's economic growth, but will also further distance Taiwan from the PRC. Taiwan's Minister of Economy said that the island's government will help domestic companies that have factories in China to move to other countries.
The American company Steve Madden – global brand of fashionable shoes – also stated that it is actively working on transferring production from China to other countries in Asia and South America.